Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥1,354, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Chemicals industry in Japan. Total returns to shareholders of 30% over the past three years. Canlı Haberler • May 22
Daicel Unveils Accelerate 2030 Plan With Focus on Earnings Quality and Growth Daicel introduced its Accelerate 2030 plan, focused on reinforcing safety, stability and a more robust earnings base across its core operations.
The strategy targets stable profitability in the material business, expansion of engineering plastics and improved returns from the safety segment.
The company also plans to strengthen next-generation businesses by channeling more resources into higher value-add areas.
The key takeaway is that Daicel is outlining clear priorities across existing and emerging segments, with an emphasis on earnings quality rather than just top-line growth.
For you, the main watchpoints are how effectively Daicel reallocates capital into higher value-add areas and whether returns from engineered plastics and safety-related products track with the goals of Accelerate 2030. New Risk • May 13
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: 1.8% Last year net profit margin: 8.4% 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: Minor Risks High level of debt (64% net debt to equity). Dividend is not well covered by cash flows (139% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.8% net profit margin). Reported Earnings • May 13
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥38.74 (down from JP¥181 in FY 2025). Revenue: JP¥579.6b (down 1.2% from FY 2025). Net income: JP¥10.2b (down 79% from FY 2025). Profit margin: 1.8% (down from 8.4% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 62%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Duyuru • May 12
Daicel Corporation, Annual General Meeting, Jun 19, 2026 Daicel Corporation, Annual General Meeting, Jun 19, 2026. Major Estimate Revision • Apr 11
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥144 to JP¥121 per share. Revenue forecast steady at JP¥578.4b. Net income forecast to shrink 8.5% next year vs 7.1% growth forecast for Chemicals industry in Japan . Consensus price target broadly unchanged at JP¥1,508. Share price rose 2.5% to JP¥1,272 over the past week. Major Estimate Revision • Mar 27
Consensus EPS estimates fall by 80% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥195 to JP¥39.52 per share. Revenue forecast steady at JP¥577.3b. Net income forecast to shrink 18% next year vs 7.1% growth forecast for Chemicals industry in Japan . Consensus price target broadly unchanged at JP¥1,505. Share price fell 4.8% to JP¥1,288 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 2026. Payment date: 23 June 2026. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.3%). Duyuru • Mar 10
Denka Company Limited (TSE:4061) enter into a share transfer agreement to acquire an additional 15% stake in Toyo Styrene Co. Ltd from Daicel Corporation (TSE:4202). Denka Company Limited (TSE:4061) enter into a share transfer agreement to acquire an additional 15% stake in Toyo Styrene Co. Ltd from Daicel Corporation (TSE:4202) on March 9, 2026. Upon completion, Denka Company Limited will own 65% stake in Toyo Styrene Co. Ltd. As a result of this transaction, Toyo Styrene is expected to become a consolidated subsidiary of the Company that qualifies as a specified subsidiary. Daicel will cease to be a co-investor in Toyo Styrene, and Toyo Styrene’s Hirohata Plant will be shut down. For a certain period, however, Toyo Styrene will continue to outsource production to Daicel and maintain product sales.
For the period ending March 31, 2025, Toyo Styrene Co. Ltd reported total revenue of ¥48.39 billion, EBIT of ¥1.22 billion and net income of ¥788 million. As of March 31, 2025, Toyo Styrene Co. Ltd reported total assets of ¥27.69 billion and total common equity of ¥11.73 billion.
The completion of this share transfer is subject to the completion of the necessary approvals, permissions, or clearances from the relevant authorities in accordance with the Anti-Monopoly Act and other applicable laws and regulations. The expected completion of the transaction is March 31, 2026. Reported Earnings • Feb 07
Third quarter 2026 earnings: EPS exceeds analyst expectations Third quarter 2026 results: EPS: JP¥64.26 (up from JP¥44.00 in 3Q 2025). Revenue: JP¥147.7b (up 3.4% from 3Q 2025). Net income: JP¥16.9b (up 41% from 3Q 2025). Profit margin: 11% (up from 8.4% in 3Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 60%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Feb 06
Daicel Corporation to Report Fiscal Year 2026 Results on May 12, 2026 Daicel Corporation announced that they will report fiscal year 2026 results on May 12, 2026 Board Change • Jan 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Seiji Kito was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Nov 11
Daicel Corporation to Report Q3, 2026 Results on Feb 05, 2026 Daicel Corporation announced that they will report Q3, 2026 results on Feb 05, 2026 Duyuru • Nov 06
Daicel Corporation (TSE:4202) announces an Equity Buyback for 11,000,000 shares, representing 4.14% for ¥15,000 million. Daicel Corporation (TSE:4202) announces a share repurchase program. Under the program, the company will repurchase up to 11,000,000 shares, representing 4.14% of its issued share capital, for a total purchase price of ¥15,000 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency as part of the capital policy in the medium-term strategy. The program will be valid till March 31, 2026. As of September 30, 2025, the company had 265,496,681 issued shares (excluding treasury stock) and 1,446,001 treasury shares. Duyuru • Oct 17
Daicel Corporation Announces Reorganization Plan Involving A Company Split with A Consolidated Subsidiary At a meeting of its Board of Directors held on October 16, 2025, Daicel Corporation resolved to proceed with consideration of a policy under which the Company will succeed to all businesses of its consolidated subsidiary, Polyplastics Co. Ltd. ("Polyplastics"), by way of an absorption-type company split (the "Absorption-type Company Split"). The business to be succeeded (the "Target Business") excludes the business of holding and managing shares of subsidiaries and affiliates owned by Polyplastics. In accordance with the Policy, the Company plans to formally decide on absorption-type company split (the "Absorption-type Company Split") at its Board of Directors meeting scheduled for January 15, 2026, and will make a further timely disclosure at that time. As the Absorption-type Company Split is expected to be a simplified absorption-type company split involving a consolidated subsidiary, certain disclosure items and details have been omitted. In line with the Company's medium-term strategy "Accelerate 2025", Daicel has been working to transform its business structure and further strengthen its engineering plastics business. As part of this initiative, the Company made Polyplastics a wholly owned subsidiary in 2020. Since then, Polyplastics has promptly decided and executed investments to expand the capacity of its overseas manufacturing bases, including the commencement of the POM production facilities in China. In terms of business performance as well, Polyplastics achieved record-high consolidated profits in the previous fiscal year, demonstrating the tangible benefits of becoming a wholly owned subsidiary. With the Absorption-type Company Split, the Company aims to create a "New Daicel" by integrating the Target Business of Polyplastics into the Company. Through (i) sharing of technical service and solution-provision know-how, which represents Polyplastics' core strengths, (ii) enhancing collaboration with the Company's Safety, Materials and other businesses, (iii) utilization of human resources for the growth of the group as a whole, and (iv) improving the efficiency of corporate functions, the Company seeks to maximize corporate value. Duyuru • Aug 05
Daicel Corporation to Report Q2, 2026 Results on Nov 06, 2025 Daicel Corporation announced that they will report Q2, 2026 results on Nov 06, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥36.29 (vs JP¥58.70 in 1Q 2025) First quarter 2026 results: EPS: JP¥36.29 (down from JP¥58.70 in 1Q 2025). Revenue: JP¥139.3b (down 4.3% from 1Q 2025). Net income: JP¥9.62b (down 41% from 1Q 2025). Profit margin: 6.9% (down from 11% in 1Q 2025). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 17% per year. Board Change • Jul 25
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Seiji Kito was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Jul 09
Final dividend of JP¥30.00 announced Dividend of JP¥30.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 3rd December 2025 Dividend yield will be 4.9%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (27% earnings payout ratio) and cash flows (76% 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 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 21
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥181 (down from JP¥198 in FY 2024). Revenue: JP¥586.5b (up 5.1% from FY 2024). Net income: JP¥49.5b (down 11% from FY 2024). Profit margin: 8.4% (down from 10.0% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.5%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jun 20
Price target decreased by 8.5% to JP¥1,561 Down from JP¥1,707, the current price target is an average from 9 analysts. New target price is 31% above last closing price of JP¥1,191. Stock is down 24% over the past year. The company is forecast to post earnings per share of JP¥210 for next year compared to JP¥181 last year. Duyuru • May 16
Daicel Corporation to Report Q1, 2026 Results on Aug 01, 2025 Daicel Corporation announced that they will report Q1, 2026 results on Aug 01, 2025 Reported Earnings • May 14
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥181 (down from JP¥198 in FY 2024). Revenue: JP¥586.5b (up 5.1% from FY 2024). Net income: JP¥49.5b (down 11% from FY 2024). Profit margin: 8.4% (down from 10.0% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.5%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,082, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the Chemicals industry in Japan. Total returns to shareholders of 58% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,873 per share. Duyuru • Apr 02
Daicel Corporation (TSE:4202) agreed to acquire remaining 65% stake in Toyama Filter Tow Co., Ltd. from Mitsubishi Chemical Corporation. Daicel Corporation (TSE:4202) agreed to acquire remaining 65% stake in Toyama Filter Tow Co., Ltd. from Mitsubishi Chemical Corporation on March 31, 2025. Upon completion, Daicel Corporation will own 100% stake in Toyama Filter Tow Co., Ltd. The transaction is expected to close on April 1, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Duyuru • Feb 08
Daicel Corporation to Report Fiscal Year 2025 Results on May 13, 2025 Daicel Corporation announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 06
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: JP¥44.00 (down from JP¥51.28 in 3Q 2024). Revenue: JP¥142.9b (flat on 3Q 2024). Net income: JP¥12.0b (down 17% from 3Q 2024). Profit margin: 8.4% (down from 10% in 3Q 2024). Revenue missed analyst estimates by 7.4%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 04
First half dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 28th March 2025 Payment date: 24th June 2025 Dividend yield will be 4.3%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (12% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% 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 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Nov 30
Daicel Corporation to Report Q3, 2025 Results on Feb 05, 2025 Daicel Corporation announced that they will report Q3, 2025 results on Feb 05, 2025 Reported Earnings • Nov 09
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: JP¥57.48 (up from JP¥51.67 in 2Q 2024). Revenue: JP¥144.1b (up 2.8% from 2Q 2024). Net income: JP¥15.9b (up 7.4% from 2Q 2024). Profit margin: 11% (in line with 2Q 2024). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Nov 05
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Senior Managing Executive Officer & Director Toshio Shiwaku was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 25% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.4%). Duyuru • Aug 27
Daicel Corporation to Report Q2, 2025 Results on Nov 07, 2024 Daicel Corporation announced that they will report Q2, 2025 results on Nov 07, 2024 Reported Earnings • Aug 04
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: JP¥58.70 (up from JP¥52.46 in 1Q 2024). Revenue: JP¥145.6b (up 11% from 1Q 2024). Net income: JP¥16.2b (up 8.0% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) exceeded analyst estimates by 11%. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 11
Final dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 3.4%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (23% earnings payout ratio) but not covered by cash flows (202% 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 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 28
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥198 (up from JP¥139 in FY 2023). Revenue: JP¥558.1b (up 3.7% from FY 2023). Net income: JP¥55.8b (up 37% from FY 2023). Profit margin: 10.0% (up from 7.6% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Duyuru • Jun 28
Daicel Corporation to Report Q1, 2025 Results on Aug 02, 2024 Daicel Corporation announced that they will report Q1, 2025 results on Aug 02, 2024 Price Target Changed • Jun 15
Price target increased by 7.2% to JP¥1,858 Up from JP¥1,732, the current price target is an average from 8 analysts. New target price is 23% above last closing price of JP¥1,516. Stock is up 18% over the past year. The company is forecast to post earnings per share of JP¥196 for next year compared to JP¥198 last year. Reported Earnings • May 11
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥198 (up from JP¥139 in FY 2023). Revenue: JP¥558.1b (up 3.7% from FY 2023). Net income: JP¥55.8b (up 37% from FY 2023). Profit margin: 10.0% (up from 7.6% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Duyuru • May 11
Daicel Corporation, Annual General Meeting, Jun 21, 2024 Daicel Corporation, Annual General Meeting, Jun 21, 2024. Duyuru • Mar 28
Daicel Corporation to Report Fiscal Year 2024 Results on May 09, 2024 Daicel Corporation announced that they will report fiscal year 2024 results on May 09, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 23% but the company is paying out more than the cash it is generating. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.1%). Reported Earnings • Feb 08
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: JP¥51.28 (up from JP¥25.03 in 3Q 2023). Revenue: JP¥143.3b (up 3.6% from 3Q 2023). Net income: JP¥14.5b (up 97% from 3Q 2023). Profit margin: 10% (up from 5.3% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) exceeded analyst estimates by 4.9%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 27
Daicel Corporation to Report Q3, 2024 Results on Feb 06, 2024 Daicel Corporation announced that they will report Q3, 2024 results on Feb 06, 2024 Reported Earnings • Nov 04
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: JP¥51.67 (up from JP¥44.97 in 2Q 2023). Revenue: JP¥140.2b (up 1.4% from 2Q 2023). Net income: JP¥14.8b (up 11% from 2Q 2023). Profit margin: 11% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 32%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 02
Daicel Corporation Declares Dividend for the Second Quarter End of the Fiscal Year 2024, Payable on December 4, 2023; Provides Year End Dividend Guidance for the Fiscal Year Ending March 31, 2024 Daicel Corporation declared dividend of JPY 25.00 per share for the second quarter end of fiscal year ending March 31, 2024. Scheduled date of payment is December 4, 2023. Record date is September 30, 2023.The company revised year end dividend guidance for the fiscal year ending March 31, 2024. For the period, the company expects to pay dividend of JPY 25.00 per share against the previous guidance of JPY 22.00 per share. Duyuru • Sep 24
Daicel Corporation to Report Q2, 2024 Results on Nov 02, 2023 Daicel Corporation announced that they will report Q2, 2024 results on Nov 02, 2023 Duyuru • Sep 22
Pharma Foods International Co., Ltd. (TSE:2929) agreed to acquire Healthcare Mail Order Business Of Daicel from Daicel Corporation (TSE:4202). Pharma Foods International Co., Ltd. (TSE:2929) agreed to acquire Healthcare Mail Order Business Of Daicel from Daicel Corporation (TSE:4202) on September 20, 2023. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥22.00 per share at 3.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.5%). New Risk • Aug 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (8.7% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥52.46 (vs JP¥30.11 in 1Q 2023) First quarter 2024 results: EPS: JP¥52.46 (up from JP¥30.11 in 1Q 2023). Revenue: JP¥130.8b (up 2.2% from 1Q 2023). Net income: JP¥15.0b (up 68% from 1Q 2023). Profit margin: 12% (up from 7.0% in 1Q 2023). 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 Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Duyuru • Jun 28
Daicel Corporation to Report Q1, 2024 Results on Aug 03, 2023 Daicel Corporation announced that they will report Q1, 2024 results on Aug 03, 2023 Price Target Changed • Jun 23
Price target increased by 7.2% to JP¥1,467 Up from JP¥1,369, the current price target is an average from 7 analysts. New target price is 15% above last closing price of JP¥1,272. Stock is up 50% over the past year. The company is forecast to post earnings per share of JP¥145 for next year compared to JP¥139 last year.