Duyuru • Jun 20
Nippon Paper Industries Co., Ltd. to Report Q1, 2027 Results on Aug 05, 2026 Nippon Paper Industries Co., Ltd. announced that they will report Q1, 2027 results on Aug 05, 2026 Major Estimate Revision • Jun 03
Consensus EPS estimates fall by 18% The consensus outlook for fiscal year 2027 has been updated. 2027 EPS estimate fell from JP¥132 to JP¥108 per share. Revenue forecast steady at JP¥1.21t. Net income forecast to grow 6.2% next year vs 24% growth forecast for Forestry industry in Japan. Consensus price target broadly unchanged at JP¥1,253. Share price fell 11% to JP¥1,204 over the past week. Reported Earnings • May 20
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥102 (up from JP¥39.33 in FY 2025). Revenue: JP¥1.19t (flat on FY 2025). Net income: JP¥11.7b (up 159% from FY 2025). Profit margin: 1.0% (up from 0.4% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Revenue is forecast to stay flat during the next 3 years compared to a 7.4% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Duyuru • May 15
Nippon Paper Industries Co., Ltd., Annual General Meeting, Jun 26, 2026 Nippon Paper Industries Co., Ltd., Annual General Meeting, Jun 26, 2026. Duyuru • Mar 30
Nippon Paper Industries Co., Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 Nippon Paper Industries Co., Ltd. announced that they will report fiscal year 2026 results at 9:00 AM, Tokyo Standard Time on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.2%). New Risk • Feb 07
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: 1.0% Last year net profit margin: 2.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.2% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥60.57 (vs JP¥108 in 3Q 2025) Third quarter 2026 results: EPS: JP¥60.57 (down from JP¥108 in 3Q 2025). Revenue: JP¥300.3b (flat on 3Q 2025). Net income: JP¥7.00b (down 44% from 3Q 2025). Profit margin: 2.3% (down from 4.1% in 3Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 9.3% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Duyuru • Dec 24
Nippon Paper Industries Co., Ltd. to Report Q3, 2026 Results on Feb 06, 2026 Nippon Paper Industries Co., Ltd. announced that they will report Q3, 2026 results on Feb 06, 2026 Major Estimate Revision • Dec 10
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥90.63 to JP¥80.36 per share. Revenue forecast steady at JP¥1.20t. Net income forecast to shrink 21% next year vs 49% growth forecast for Forestry industry in Japan . Consensus price target down from JP¥1,260 to JP¥1,220. Share price was steady at JP¥1,108 over the past week. Declared Dividend • Dec 02
First half dividend of JP¥10.00 announced Shareholders will receive a dividend of JP¥10.00. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 1.4%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Nov 21
Consensus EPS estimates fall by 20% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥114 to JP¥90.63 per share. Revenue forecast steady at JP¥1.20t. Net income forecast to shrink 11% next year vs 43% growth forecast for Forestry industry in Japan . Consensus price target of JP¥1,260 unchanged from last update. Share price fell 4.3% to JP¥1,056 over the past week. Reported Earnings • Nov 08
Second quarter 2026 earnings released: JP¥9.96 loss per share (vs JP¥97.59 loss in 2Q 2025) Second quarter 2026 results: JP¥9.96 loss per share (improved from JP¥97.59 loss in 2Q 2025). Revenue: JP¥296.6b (flat on 2Q 2025). Net loss: JP¥1.15b (loss narrowed 90% from 2Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 14% growth forecast for the Forestry industry in Asia. 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 4% per year, which means it is significantly lagging earnings growth. Duyuru • Sep 25
Nippon Paper Industries Co., Ltd. to Report Q2, 2026 Results on Nov 06, 2025 Nippon Paper Industries Co., Ltd. announced that they will report Q2, 2026 results on Nov 06, 2025 Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: JP¥16.50 (vs JP¥9.44 loss in 1Q 2025) First quarter 2026 results: EPS: JP¥16.50 (up from JP¥9.44 loss in 1Q 2025). Revenue: JP¥292.6b (up 2.0% from 1Q 2025). Net income: JP¥1.91b (up JP¥2.99b from 1Q 2025). Profit margin: 0.7% (up from net loss in 1Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jun 26
Consensus EPS estimates increase by 10% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from JP¥118 to JP¥130. Revenue forecast steady at JP¥1.20t. Net income forecast to grow 231% next year vs 36% growth forecast for Forestry industry in Japan. Consensus price target broadly unchanged at JP¥1,137. Share price was steady at JP¥1,010 over the past week. Duyuru • Jun 24
Nippon Paper Industries Co., Ltd. to Report Q1, 2026 Results on Aug 06, 2025 Nippon Paper Industries Co., Ltd. announced that they will report Q1, 2026 results on Aug 06, 2025 Major Estimate Revision • Jun 04
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥144 to JP¥123 per share. Revenue forecast steady at JP¥1.20t. Net income forecast to grow 223% next year vs 42% growth forecast for Forestry industry in Japan. Consensus price target up from JP¥1,057 to JP¥1,090. Share price rose 5.3% to JP¥1,106 over the past week. Price Target Changed • Jun 03
Price target increased by 9.9% to JP¥1,090 Up from JP¥992, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of JP¥1,061. Stock is up 7.9% over the past year. The company is forecast to post earnings per share of JP¥123 for next year compared to JP¥39.33 last year. Reported Earnings • May 20
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥39.33 (down from JP¥197 in FY 2024). Revenue: JP¥1.18t (up 1.3% from FY 2024). Net income: JP¥4.54b (down 80% from FY 2024). Profit margin: 0.4% (down from 1.9% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 63%. Revenue is forecast to stay flat during the next 3 years compared to a 15% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Duyuru • May 15
Nippon Paper Industries Co., Ltd., Annual General Meeting, Jun 27, 2025 Nippon Paper Industries Co., Ltd., Annual General Meeting, Jun 27, 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: 30 June 2025. Payout ratio is a comfortable 3.7% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.7%). Duyuru • Mar 20
Nippon Paper Industries Co., Ltd. to Report Fiscal Year 2025 Results on May 15, 2025 Nippon Paper Industries Co., Ltd. announced that they will report fiscal year 2025 results on May 15, 2025 Price Target Changed • Mar 19
Price target increased by 9.7% to JP¥1,057 Up from JP¥963, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of JP¥1,043. Stock is down 12% over the past year. The company is forecast to post earnings per share of JP¥24.20 for next year compared to JP¥197 last year. Major Estimate Revision • Mar 18
Consensus EPS estimates increase by 24% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥21.70 to JP¥26.86. Revenue forecast steady at JP¥1.18t. Net income forecast to shrink 58% next year vs 33% growth forecast for Forestry industry in Japan . Consensus price target up from JP¥991 to JP¥1,057. Share price was steady at JP¥1,042 over the past week. Price Target Changed • Feb 26
Price target increased by 7.6% to JP¥963 Up from JP¥895, the current price target is an average from 6 analysts. New target price is 5.2% below last closing price of JP¥1,016. Stock is down 12% over the past year. The company is forecast to post earnings per share of JP¥21.70 for next year compared to JP¥197 last year. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥108 (vs JP¥9.30 in 3Q 2024) Third quarter 2025 results: EPS: JP¥108 (up from JP¥9.30 in 3Q 2024). Revenue: JP¥301.7b (up 3.8% from 3Q 2024). Net income: JP¥12.4b (up JP¥11.3b from 3Q 2024). Profit margin: 4.1% (up from 0.4% in 3Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Duyuru • Dec 20
Nippon Paper Industries Co., Ltd. to Report Q3, 2025 Results on Feb 07, 2025 Nippon Paper Industries Co., Ltd. announced that they will report Q3, 2025 results on Feb 07, 2025 Major Estimate Revision • Dec 13
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥25.17 to JP¥21.05 per share. Revenue forecast steady at JP¥1.18t. Net income forecast to shrink 58% next year vs 34% growth forecast for Forestry industry in Japan . Consensus price target down from JP¥952 to JP¥917. Share price was steady at JP¥857 over the past week. Major Estimate Revision • Nov 20
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥29.86 to JP¥26.22 per share. Revenue forecast steady at JP¥1.17t. Net income forecast to shrink 56% next year vs 33% growth forecast for Forestry industry in Japan . Consensus price target broadly unchanged at JP¥968. Share price was steady at JP¥841 over the past week. Reported Earnings • Nov 08
Second quarter 2025 earnings released: JP¥97.59 loss per share (vs JP¥35.56 loss in 2Q 2024) Second quarter 2025 results: JP¥97.59 loss per share (further deteriorated from JP¥35.56 loss in 2Q 2024). Revenue: JP¥297.5b (flat on 2Q 2024). Net loss: JP¥11.3b (loss widened 175% from 2Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Forestry industry in Asia. 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 9% per year, which means it is significantly lagging earnings. Duyuru • Oct 01
Nippon Paper Industries Co., Ltd.(TSE:3863) dropped from Nikkei 225 Index Nippon Paper Industries Co., Ltd. has been dropped from the Nikkei 225 Index. Duyuru • Sep 21
Nippon Paper Industries Co., Ltd. to Report Q2, 2025 Results on Nov 06, 2024 Nippon Paper Industries Co., Ltd. announced that they will report Q2, 2025 results on Nov 06, 2024 Duyuru • Aug 28
A&A Material Corporation (TSE:5391) agreed to acquire Daishowa Uniboard Co., Ltd. from Nippon Paper Industries Co., Ltd. (TSE:3863). A&A Material Corporation (TSE:5391) agreed to acquire Daishowa Uniboard Co., Ltd. from Nippon Paper Industries Co., Ltd. (TSE:3863) on August 27, 2024. The expected completion of the transaction is October 1, 2024. New Risk • Aug 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Duyuru • Jun 22
Nippon Paper Industries Co., Ltd. to Report Q1, 2025 Results on Aug 07, 2024 Nippon Paper Industries Co., Ltd. announced that they will report Q1, 2025 results on Aug 07, 2024 Major Estimate Revision • Jun 15
Consensus EPS estimates fall by 45% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥60.77 to JP¥33.30 per share. Revenue forecast steady at JP¥1.18t. Net income forecast to shrink 83% next year vs 28% growth forecast for Forestry industry in Japan . Consensus price target down from JP¥1,145 to JP¥1,112. Share price was steady at JP¥956 over the past week. Major Estimate Revision • Jun 06
Consensus EPS estimates fall by 42% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥136 to JP¥78.97 per share. Revenue forecast steady at JP¥1.19t. Net income forecast to shrink 62% next year vs 28% growth forecast for Forestry industry in Japan . Consensus price target broadly unchanged at JP¥1,145. Share price was steady at JP¥964 over the past week. Reported Earnings • May 19
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥197 (up from JP¥436 loss in FY 2023). Revenue: JP¥1.17t (up 1.3% from FY 2023). Net income: JP¥22.7b (up JP¥73.2b from FY 2023). Profit margin: 1.9% (up from net loss in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 53%. Revenue is forecast to stay flat during the next 3 years compared to a 10% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Duyuru • May 01
Nippon Paper Industries Co., Ltd., Annual General Meeting, Jun 27, 2024 Nippon Paper Industries Co., Ltd., Annual General Meeting, Jun 27, 2024. Duyuru • Mar 21
Nippon Paper Industries Co., Ltd. to Report Fiscal Year 2024 Results on May 15, 2024 Nippon Paper Industries Co., Ltd. announced that they will report fiscal year 2024 results on May 15, 2024 New Risk • Feb 13
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 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥9.30 (vs JP¥31.37 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥9.30 (up from JP¥31.37 loss in 3Q 2023). Revenue: JP¥290.6b (down 2.6% from 3Q 2023). Net income: JP¥1.07b (up JP¥4.70b from 3Q 2023). Profit margin: 0.4% (up from net loss in 3Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 9.9% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Duyuru • Dec 21
Nippon Paper Industries Co., Ltd. to Report Q3, 2024 Results on Feb 09, 2024 Nippon Paper Industries Co., Ltd. announced that they will report Q3, 2024 results on Feb 09, 2024 Buying Opportunity • Dec 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.8%. The fair value is estimated to be JP¥1,667, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has declined by 108%. Reported Earnings • Nov 11
Second quarter 2024 earnings released: JP¥35.56 loss per share (vs JP¥120 loss in 2Q 2023) Second quarter 2024 results: JP¥35.56 loss per share (improved from JP¥120 loss in 2Q 2023). Revenue: JP¥296.5b (up 3.6% from 2Q 2023). Net loss: JP¥4.10b (loss narrowed 70% from 2Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 1.6% growth forecast for the Forestry industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Buying Opportunity • Nov 08
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 3.5%. The fair value is estimated to be JP¥1,542, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Meanwhile, the company became loss making. Duyuru • Sep 22
Nippon Paper Industries Co., Ltd. to Report Q2, 2024 Results on Nov 10, 2023 Nippon Paper Industries Co., Ltd. announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 08
First quarter 2024 earnings released: JP¥45.62 loss per share (vs JP¥70.95 loss in 1Q 2023) First quarter 2024 results: JP¥45.62 loss per share (improved from JP¥70.95 loss in 1Q 2023). Revenue: JP¥287.4b (up 8.6% from 1Q 2023). Net loss: JP¥5.27b (loss narrowed 36% from 1Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 1.7% growth forecast for the Forestry industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. Duyuru • May 28
Nippon Paper Industries Co., Ltd. to Report Q1, 2024 Results on Aug 07, 2023 Nippon Paper Industries Co., Ltd. announced that they will report Q1, 2024 results on Aug 07, 2023 Buying Opportunity • May 25
Now 20% undervalued Over the last 90 days, the stock is up 15%. The fair value is estimated to be JP¥1,498, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • May 22
Price target increased by 13% to JP¥1,203 Up from JP¥1,060, the current price target is an average from 4 analysts. New target price is 8.6% above last closing price of JP¥1,107. Stock is up 15% over the past year. The company is forecast to post earnings per share of JP¥141 next year compared to a net loss per share of JP¥436 last year. Reported Earnings • May 19
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: JP¥436 loss per share (down from JP¥17.23 profit in FY 2022). Revenue: JP¥1.15t (up 10% from FY 2022). Net loss: JP¥50.4b (down JP¥52.4b from profit in FY 2022). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to stay flat during the next 3 years compared to a 2.7% growth forecast for the Forestry industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Duyuru • May 17
Nippon Paper Industries Co., Ltd., Annual General Meeting, Jun 29, 2023 Nippon Paper Industries Co., Ltd., Annual General Meeting, Jun 29, 2023. Price Target Changed • Mar 09
Price target increased by 7.1% to JP¥1,060 Up from JP¥990, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥1,080. Stock is up 4.3% over the past year. The company is forecast to post a net loss per share of JP¥416 compared to earnings per share of JP¥17.23 last year. Reported Earnings • Feb 15
Third quarter 2023 earnings released: JP¥31.37 loss per share (vs JP¥1.65 profit in 3Q 2022) Third quarter 2023 results: JP¥31.37 loss per share (down from JP¥1.65 profit in 3Q 2022). Revenue: JP¥298.5b (up 12% from 3Q 2022). Net loss: JP¥3.62b (down JP¥3.82b from profit in 3Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 2.3% growth forecast for the Forestry industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Duyuru • Dec 07
Nippon Paper Industries Co., Ltd. to Report Q3, 2023 Results on Feb 28, 2023 Nippon Paper Industries Co., Ltd. announced that they will report Q3, 2023 results on Feb 28, 2023 Price Target Changed • Nov 16
Price target decreased to JP¥965 Down from JP¥1,100, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥944. Stock is down 16% over the past year. The company is forecast to post a net loss per share of JP¥197 compared to earnings per share of JP¥17.23 last year. 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. 8 non-independent directors. Independent Outside Director Yutaka Kunigo was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Second quarter 2023 earnings released: JP¥120 loss per share (vs JP¥2.81 profit in 2Q 2022) Second quarter 2023 results: JP¥120 loss per share (down from JP¥2.81 profit in 2Q 2022). Revenue: JP¥286.1b (up 11% from 2Q 2022). Net loss: JP¥13.9b (down JP¥14.2b from profit in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 2.1% growth forecast for the Forestry industry in Japan. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Price Target Changed • Sep 11
Price target decreased to JP¥1,020 Down from JP¥1,100, the current price target is an average from 4 analysts. New target price is 15% above last closing price of JP¥885. Stock is down 28% over the past year. The company is forecast to post a net loss per share of JP¥134 compared to earnings per share of JP¥17.23 last year. Reported Earnings • Aug 07
First quarter 2023 earnings: EPS misses analyst expectations First quarter 2023 results: JP¥70.95 loss per share (down from JP¥16.20 profit in 1Q 2022). Revenue: JP¥264.8b (up 5.7% from 1Q 2022). Net loss: JP¥8.20b (down JP¥10.1b from profit in 1Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 1.9%, compared to a 7.0% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Major Estimate Revision • Jun 02
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate fell from JP¥92.60 to JP¥79.19 per share. Revenue forecast steady at JP¥1.07t. Net income forecast to grow 360% next year vs 20% decline forecast for Forestry industry in Japan. Consensus price target down from JP¥1,100 to JP¥1,075. Share price rose 2.7% to JP¥978 over the past week. Price Target Changed • May 24
Price target decreased to JP¥1,100 Down from JP¥1,206, the current price target is an average from 4 analysts. New target price is 16% above last closing price of JP¥946. Stock is down 28% over the past year. The company is forecast to post earnings per share of JP¥92.60 for next year compared to JP¥17.23 last year. Reported Earnings • May 17
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥17.23 (down from JP¥27.67 in FY 2021). Revenue: JP¥1.05t (up 3.7% from FY 2021). Net income: JP¥1.99b (down 38% from FY 2021). Profit margin: 0.2% (down from 0.3% in FY 2021). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 38%. Over the next year, revenue is forecast to stay flat compared to a 3.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Yutaka Kunigo was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.3%). Major Estimate Revision • Mar 08
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from JP¥11.24 to JP¥9.95. Revenue forecast unchanged from JP¥1.03t at last update. Net income forecast to grow 192% next year vs 8.4% decline forecast for Forestry industry in Japan. Consensus price target broadly unchanged at JP¥1,186. Share price fell 5.6% to JP¥1,020 over the past week. Reported Earnings • Feb 08
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: JP¥1.65 (down from JP¥89.90 in 3Q 2021). Revenue: JP¥265.6b (down 2.2% from 3Q 2021). Net income: JP¥191.0m (down 98% from 3Q 2021). Profit margin: 0.1% (down from 3.8% in 3Q 2021). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 2.0% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Major Estimate Revision • Feb 08
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from JP¥11.25 to JP¥12.98. Revenue forecast unchanged at JP¥1.03t. Net income forecast to shrink 47% next year vs 19% decline forecast for Forestry industry in Japan. Consensus price target of JP¥1,206 unchanged from last update. Share price was steady at JP¥1,134 over the past week. Major Estimate Revision • Jan 06
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from JP¥8.77 to JP¥11.25. Revenue forecast steady at JP¥1.03t. Net income forecast to shrink 48% next year vs 17% decline forecast for Forestry industry in Japan. Consensus price target broadly unchanged at JP¥1,226. Share price rose 5.3% to JP¥1,144 over the past week. Major Estimate Revision • Dec 16
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from JP¥10.85 to JP¥8.77 per share. Revenue forecast steady at JP¥1.03t. Net income forecast to shrink 50% next year vs 17% decline forecast for Forestry industry in Japan. Consensus price target down from JP¥1,278 to JP¥1,248. Share price fell 3.3% to JP¥1,105 over the past week. Major Estimate Revision • Nov 27
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from JP¥9.64 to JP¥10.85. Revenue forecast unchanged at JP¥1.03t. Net income forecast to shrink 45% next year vs 17% decline forecast for Forestry industry in Japan. Consensus price target down from JP¥1,308 to JP¥1,278. Share price was steady at JP¥1,110 over the past week. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS JP¥2.81 (vs JP¥36.85 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥257.9b (up 5.9% from 2Q 2021). Net income: JP¥325.0m (up JP¥4.58b from 2Q 2021). Profit margin: 0.1% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 December 2021. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (2.1%). Major Estimate Revision • Aug 06
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from JP¥17.90 to JP¥36.37. Revenue forecast steady at JP¥1.03t. Net income forecast to grow 31% next year vs 32% growth forecast for Forestry industry in Japan. Consensus price target of JP¥1,368 unchanged from last update. Share price fell 2.4% to JP¥1,245 over the past week. Major Estimate Revision • Jun 03
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from JP¥39.80 to JP¥23.80 per share. Revenue forecast steady at JP¥1.03t. Net income forecast to grow 44% next year vs 44% growth forecast for Forestry industry in Japan. Consensus price target broadly unchanged at JP¥1,368. Share price was steady at JP¥1,272 over the past week. Reported Earnings • May 19
Full year 2021 earnings released: EPS JP¥27.67 (vs JP¥123 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥1.01t (down 3.5% from FY 2020). Net income: JP¥3.20b (down 78% from FY 2020). Profit margin: 0.3% (down from 1.4% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 07
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from JP¥26.27 to JP¥33.82. Revenue forecast steady at JP¥1.00t. Net income forecast to grow 54% next year vs 14% decline forecast for Forestry industry in Japan. Consensus price target broadly unchanged at JP¥1,336. Share price was steady at JP¥1,340 over the past week. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 2.8%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.8%). Major Estimate Revision • Mar 04
Analysts update estimates The 2021 consensus earning per share (EPS) estimate increased from JP¥24.61 to JP¥28.57. No change was made to the revenue estimate which at the last update was JP¥999.3b. Net income is expected to grow by 69% next year compared to 14% decline forecast for the Forestry industry in Japan. The consensus price target increased from JP¥1,334 to JP¥1,363. Share price is down by 1.7% to JP¥1,413 over the past week. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS JP¥89.90 (vs JP¥6.46 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥271.5b (up 4.7% from 3Q 2020). Net income: JP¥10.4b (up JP¥9.64b from 3Q 2020). Profit margin: 3.8% (up from 0.3% in 3Q 2020). 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 13% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 07
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 2.6% while theForestry industry in Japan is not expected to grow. Is New 90 Day High Low • Feb 03
New 90-day high: JP¥1,348 The company is up 9.0% from its price of JP¥1,234 on 05 November 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,550 per share. Is New 90 Day High Low • Jan 15
New 90-day high: JP¥1,278 The company is up 4.0% from its price of JP¥1,233 on 16 October 2020. The Japanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,550 per share.