Reported Earnings • Aug 08
First quarter 2027 earnings released: EPS: JP¥37.89 (vs JP¥34.40 in 1Q 2026) First quarter 2027 results: EPS: JP¥37.89 (up from JP¥34.40 in 1Q 2026). Revenue: JP¥9.89b (up 8.3% from 1Q 2026). Net income: JP¥690.0m (up 10% from 1Q 2026). Profit margin: 7.0% (up from 6.8% in 1Q 2026). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 25
Final dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 29th September 2026 Payment date: 7th December 2026 Dividend yield will be 2.9%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 26% over the next 3 years. However, it would need to fall by 82% to increase the payout ratio to a potentially unsustainable range. Duyuru • Jun 03
Nitta Gelatin Inc. to Report Q1, 2027 Results on Aug 07, 2026 Nitta Gelatin Inc. announced that they will report Q1, 2027 results on Aug 07, 2026 Reported Earnings • May 18
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥181 (up from JP¥174 in FY 2025). Revenue: JP¥38.0b (down 1.8% from FY 2025). Net income: JP¥3.28b (up 3.9% from FY 2025). Profit margin: 8.6% (up from 8.2% in FY 2025). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 2.6%. Revenue is forecast to grow 3.4% p.a. on average during the next 2 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 59% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Duyuru • May 14
Nitta Gelatin Inc., Annual General Meeting, Jun 29, 2026 Nitta Gelatin Inc., Annual General Meeting, Jun 29, 2026. Duyuru • May 09
Nitta Gelatin Inc. to Report Fiscal Year 2026 Results on May 14, 2026 Nitta Gelatin Inc. announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 9.2% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.3%). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥31.51 (vs JP¥58.13 in 3Q 2025) Third quarter 2026 results: EPS: JP¥31.51 (down from JP¥58.13 in 3Q 2025). Revenue: JP¥9.67b (down 2.4% from 3Q 2025). Net income: JP¥573.0m (down 46% from 3Q 2025). Profit margin: 5.9% (down from 11% in 3Q 2025). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 4.6% 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 53% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 14
Nitta Gelatin Inc. Provides Dividend Guidance for the Fiscal Year Ending March 31, 2026 Nitta Gelatin Inc. provided dividend guidance for the Fiscal year ending March 31, 2026. For the year end, the company expects to pay dividend of JPY 18.00 per share against JPY 16.00 per share a year ago. Major Estimate Revision • Dec 12
Consensus EPS estimates increase by 50%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from JP¥40.0b to JP¥37.8b. EPS estimate rose from JP¥116 to JP¥173. Net income forecast to shrink 39% next year vs 8.2% growth forecast for Chemicals industry in Japan . Consensus price target of JP¥1,400 unchanged from last update. Share price rose 3.3% to JP¥1,155 over the past week. Declared Dividend • Dec 06
First half dividend of JP¥18.00 announced Shareholders will receive a dividend of JP¥18.00. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 2.7%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (9% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 56% over the next 3 years. However, it would need to fall by 90% to increase the payout ratio to a potentially unsustainable range. Duyuru • Nov 29
Nitta Gelatin Inc. to Report Q3, 2026 Results on Feb 13, 2026 Nitta Gelatin Inc. announced that they will report Q3, 2026 results on Feb 13, 2026 Reported Earnings • Nov 15
Second quarter 2026 earnings released: EPS: JP¥87.41 (vs JP¥11.23 in 2Q 2025) Second quarter 2026 results: EPS: JP¥87.41 (up from JP¥11.23 in 2Q 2025). Revenue: JP¥9.36b (flat on 2Q 2025). Net income: JP¥1.59b (up JP¥1.39b from 2Q 2025). Profit margin: 17% (up from 2.2% in 2Q 2025). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 05 December 2025. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.6%). Duyuru • Sep 02
Nitta Gelatin Inc. to Report Q2, 2026 Results on Nov 12, 2025 Nitta Gelatin Inc. announced that they will report Q2, 2026 results on Nov 12, 2025 Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥34.40 (vs JP¥33.92 in 1Q 2025) First quarter 2026 results: EPS: JP¥34.40 (up from JP¥33.92 in 1Q 2025). Revenue: JP¥9.14b (down 12% from 1Q 2025). Net income: JP¥625.0m (up 1.5% from 1Q 2025). Profit margin: 6.8% (up from 5.9% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 11% per year. Declared Dividend • Jul 09
Final dividend of JP¥12.00 announced Shareholders will receive a dividend of JP¥12.00. Ex-date: 29th September 2025 Payment date: 5th December 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 28% over the next 3 years. However, it would need to fall by 79% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Jun 27
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥174 (up from JP¥102 loss in FY 2024). Revenue: JP¥38.7b (down 4.1% from FY 2024). Net income: JP¥3.16b (up JP¥5.01b from FY 2024). Profit margin: 8.2% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 32%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Duyuru • Jun 25
Nitta Gelatin Inc. to Report Q1, 2026 Results on Aug 08, 2025 Nitta Gelatin Inc. announced that they will report Q1, 2026 results on Aug 08, 2025 New Risk • Jun 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.7b (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥14.7b market cap, or US$99.5m). Major Estimate Revision • Jun 12
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥41.0b to JP¥40.0b. EPS estimate also fell from JP¥138 per share to JP¥116 per share. Net income forecast to shrink 34% next year vs 6.1% growth forecast for Chemicals industry in Japan . Consensus price target of JP¥1,400 unchanged from last update. Share price was steady at JP¥840 over the past week. New Risk • May 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.2% 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 Risk Earnings are forecast to decline by an average of 8.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Duyuru • May 14
Nitta Gelatin Inc., Annual General Meeting, Jun 27, 2025 Nitta Gelatin Inc., Annual General Meeting, Jun 27, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥683, 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 14% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.6%). Major Estimate Revision • Mar 14
Consensus EPS estimates increase by 41% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥39.0b to JP¥39.6b. EPS estimate increased from JP¥93.60 to JP¥132 per share. Net income forecast to grow 51% next year vs 8.3% growth forecast for Chemicals industry in Japan. Consensus price target up from JP¥920 to JP¥1,400. Share price rose 7.7% to JP¥825 over the past week. Duyuru • Mar 07
Nitta Gelatin Inc. to Report Fiscal Year 2025 Results on May 14, 2025 Nitta Gelatin Inc. announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: JP¥58.13 (vs JP¥127 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥58.13 (up from JP¥127 loss in 3Q 2024). Revenue: JP¥9.91b (down 4.2% from 3Q 2024). Net income: JP¥1.06b (up JP¥3.36b from 3Q 2024). Profit margin: 11% (up from net loss in 3Q 2024). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Price Target Changed • Dec 11
Price target decreased by 12% to JP¥920 Down from JP¥1,050, the current price target is provided by 1 analyst. New target price is 23% above last closing price of JP¥750. Stock is down 2.0% over the past year. The company is forecast to post earnings per share of JP¥93.60 next year compared to a net loss per share of JP¥102 last year. Declared Dividend • Dec 06
First half dividend increased to JP¥9.00 Dividend of JP¥9.00 is 13% higher than last year. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 2.4%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (7% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years. However, payments have been volatile during that time. Duyuru • Dec 03
Nitta Gelatin Inc. to Report Q3, 2025 Results on Feb 13, 2025 Nitta Gelatin Inc. announced that they will report Q3, 2025 results on Feb 13, 2025 Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: JP¥11.23 (vs JP¥24.35 in 2Q 2024) Second quarter 2025 results: EPS: JP¥11.23 (down from JP¥24.35 in 2Q 2024). Revenue: JP¥9.36b (down 9.2% from 2Q 2024). Net income: JP¥204.0m (down 54% from 2Q 2024). Profit margin: 2.2% (down from 4.3% in 2Q 2024). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Chemicals 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. New Risk • Nov 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.2b (US$98.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (JP¥15.2b market cap, or US$98.6m). Upcoming Dividend • Sep 20
Upcoming dividend of JP¥9.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.4%). New Risk • Sep 07
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 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (8.2% average weekly change). Duyuru • Aug 28
Nitta Gelatin Inc. to Report Q2, 2025 Results on Nov 12, 2024 Nitta Gelatin Inc. announced that they will report Q2, 2025 results on Nov 12, 2024 Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: JP¥33.92 (vs JP¥13.68 in 1Q 2024) First quarter 2025 results: EPS: JP¥33.92 (up from JP¥13.68 in 1Q 2024). Revenue: JP¥10.4b (up 10% from 1Q 2024). Net income: JP¥616.0m (up 148% from 1Q 2024). Profit margin: 5.9% (up from 2.6% in 1Q 2024). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Declared Dividend • Jul 11
Final dividend of JP¥9.00 announced Shareholders will receive a dividend of JP¥9.00. Ex-date: 27th September 2024 Payment date: 5th December 2024 Dividend yield will be 2.2%, which is about the same as the industry average. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (12% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. Duyuru • Jun 02
Nitta Gelatin Inc. to Report Q1, 2025 Results on Aug 09, 2024 Nitta Gelatin Inc. announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 20
Full year 2024 earnings released: JP¥102 loss per share (vs JP¥85.97 profit in FY 2023) Full year 2024 results: JP¥102 loss per share (down from JP¥85.97 profit in FY 2023). Revenue: JP¥40.4b (up 3.1% from FY 2023). Net loss: JP¥1.85b (down 219% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Duyuru • May 17
Nitta Gelatin Inc., Annual General Meeting, Jun 26, 2024 Nitta Gelatin Inc., Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (2.1%). Duyuru • Mar 02
Nitta Gelatin Inc. to Report Fiscal Year 2024 Results on May 14, 2024 Nitta Gelatin Inc. announced that they will report fiscal year 2024 results on May 14, 2024 Reported Earnings • Feb 14
Third quarter 2024 earnings released: JP¥127 loss per share (vs JP¥0.94 loss in 3Q 2023) Third quarter 2024 results: JP¥127 loss per share (further deteriorated from JP¥0.94 loss in 3Q 2023). Revenue: JP¥10.3b (up 2.4% from 3Q 2023). Net loss: JP¥2.30b (loss widened JP¥2.28b from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has remained flat. Duyuru • Nov 27
Nitta Gelatin Inc. to Report Q3, 2024 Results on Feb 13, 2024 Nitta Gelatin Inc. announced that they will report Q3, 2024 results on Feb 13, 2024 Reported Earnings • Nov 15
Second quarter 2024 earnings released: EPS: JP¥24.35 (vs JP¥20.20 in 2Q 2023) Second quarter 2024 results: EPS: JP¥24.35 (up from JP¥20.20 in 2Q 2023). Revenue: JP¥10.3b (up 3.8% from 2Q 2023). Net income: JP¥442.0m (up 21% from 2Q 2023). Profit margin: 4.3% (up from 3.7% in 2Q 2023). 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 Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥8.00 per share at 2.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (2.5%). Duyuru • Aug 27
Nitta Gelatin Inc. to Report Q2, 2024 Results on Nov 13, 2023 Nitta Gelatin Inc. announced that they will report Q2, 2024 results on Nov 13, 2023 Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥13.68 (vs JP¥30.10 in 1Q 2023) First quarter 2024 results: EPS: JP¥13.68 (down from JP¥30.10 in 1Q 2023). Revenue: JP¥9.40b (up 1.7% from 1Q 2023). Net income: JP¥248.0m (down 55% from 1Q 2023). Profit margin: 2.6% (down from 5.9% in 1Q 2023). Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Jun 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.3% 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 Risk Earnings are forecast to decline by an average of 4.3% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.4% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥13.4b market cap, or US$94.6m). Duyuru • Jun 02
Nitta Gelatin Inc. to Report Q1, 2024 Results on Aug 10, 2023 Nitta Gelatin Inc. announced that they will report Q1, 2024 results on Aug 10, 2023 Reported Earnings • May 16
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥85.97 (up from JP¥40.12 in FY 2022). Revenue: JP¥39.2b (up 23% from FY 2022). Net income: JP¥1.56b (up 115% from FY 2022). Profit margin: 4.0% (up from 2.3% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 25%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥767, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Chemicals industry in Japan. Total returns to shareholders of 13% over the past three years. Duyuru • May 13
Nitta Gelatin Inc., Annual General Meeting, Jun 29, 2023 Nitta Gelatin Inc., Annual General Meeting, Jun 29, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥9.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.8%). Major Estimate Revision • Mar 15
Consensus EPS estimates fall by 17% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from JP¥82.70 to JP¥68.90 per share. Revenue forecast steady at JP¥39.4b. Net income forecast to grow 44% next year vs 1.3% growth forecast for Chemicals industry in Japan. Consensus price target of JP¥1,300 unchanged from last update. Share price fell 5.5% to JP¥784 over the past week. Reported Earnings • Feb 14
Third quarter 2023 earnings released: JP¥0.94 loss per share (vs JP¥13.70 profit in 3Q 2022) Third quarter 2023 results: JP¥0.94 loss per share (down from JP¥13.70 profit in 3Q 2022). Revenue: JP¥10.1b (up 23% from 3Q 2022). Net loss: JP¥17.0m (down 107% from profit in 3Q 2022). Revenue is forecast to grow 6.6% 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 86% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 30
Nitta Gelatin Inc. to Report Q3, 2023 Results on Feb 13, 2023 Nitta Gelatin Inc. announced that they will report Q3, 2023 results on Feb 13, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥20.20 (vs JP¥8.90 in 2Q 2022) Second quarter 2023 results: EPS: JP¥20.20 (up from JP¥8.90 in 2Q 2022). Revenue: JP¥9.93b (up 36% from 2Q 2022). Net income: JP¥366.0m (up 127% from 2Q 2022). Profit margin: 3.7% (up from 2.2% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Outside Director Hiromasa Suzuki was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.9%). Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥915, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 9x in the Chemicals industry in Japan. Total returns to shareholders of 46% over the past three years. Price Target Changed • Sep 07
Price target increased to JP¥1,200 Up from JP¥680, the current price target is provided by 1 analyst. New target price is 42% above last closing price of JP¥844. Stock is up 32% over the past year. The company is forecast to post earnings per share of JP¥88.40 for next year compared to JP¥40.12 last year. Duyuru • Aug 31
Nitta Gelatin Inc. to Report Q2, 2023 Results on Nov 14, 2022 Nitta Gelatin Inc. announced that they will report Q2, 2023 results on Nov 14, 2022 Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: JP¥30.10 (vs JP¥11.79 in 1Q 2022) First quarter 2023 results: EPS: JP¥30.10 (up from JP¥11.79 in 1Q 2022). Revenue: JP¥9.25b (up 22% from 1Q 2022). Net income: JP¥545.0m (up 156% from 1Q 2022). Profit margin: 5.9% (up from 2.8% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 9.9%, compared to a 9.2% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jun 14
Consensus revenue estimates increase by 12% The consensus outlook for revenues in 2023 has improved. 2023 revenue forecast increased from JP¥32.4b to JP¥36.2b. EPS estimate increased from JP¥41.40 to JP¥49.70 per share. Net income forecast to grow 24% next year vs 6.1% growth forecast for Chemicals industry in Japan. Consensus price target of JP¥680 unchanged from last update. Share price was steady at JP¥616 over the past week. Duyuru • Jun 01
Nitta Gelatin Inc. to Report Q1, 2023 Results on Aug 09, 2022 Nitta Gelatin Inc. announced that they will report Q1, 2023 results on Aug 09, 2022 Reported Earnings • May 17
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥40.12 (down from JP¥40.98 in FY 2021). Revenue: JP¥31.8b (up 4.0% from FY 2021). Net income: JP¥726.0m (down 2.2% from FY 2021). Profit margin: 2.3% (down from 2.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 3.8%. Over the next year, revenue is forecast to grow 1.9%, compared to a 7.7% growth forecast for the 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 fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 4 highly experienced directors. 3 independent directors (8 non-independent directors). Independent Outside Director Yoko Hori was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Apr 08
Nitta Gelatin Inc. to Report Fiscal Year 2022 Results on May 13, 2022 Nitta Gelatin Inc. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.6%). Major Estimate Revision • Mar 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from JP¥29.8b to JP¥30.8b. EPS estimate fell from JP¥49.70 to JP¥38.70 per share. Net income forecast to shrink 3.4% next year vs 2.4% growth forecast for Chemicals industry in Japan . Consensus price target of JP¥680 unchanged from last update. Share price rose 3.8% to JP¥682 over the past week. Reported Earnings • Feb 16
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: JP¥13.70 (down from JP¥13.77 in 3Q 2021). Revenue: JP¥8.23b (up 3.8% from 3Q 2021). Net income: JP¥248.0m (flat on 3Q 2021). Profit margin: 3.0% (down from 3.1% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 9.9%. Earnings per share (EPS) missed analyst estimates by 7.5%. Over the next year, revenue is forecast to grow 2.4%, compared to a 6.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS JP¥8.90 (vs JP¥7.68 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥7.28b (down 6.5% from 2Q 2021). Net income: JP¥161.0m (up 16% from 2Q 2021). Profit margin: 2.2% (up from 1.8% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 December 2021. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.9%). Reported Earnings • Aug 13
First quarter 2022 earnings released: EPS JP¥11.79 (vs JP¥11.66 in 1Q 2021) The company reported a mediocre first quarter result with weaker profit margins, although earnings were flat and revenues improved. First quarter 2022 results: Revenue: JP¥7.58b (up 2.3% from 1Q 2021). Net income: JP¥213.0m (flat on 1Q 2021). Profit margin: 2.8% (down from 2.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥40.98 (vs JP¥37.77 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥30.6b (down 12% from FY 2020). Net income: JP¥742.0m (up JP¥1.44b from FY 2020). Profit margin: 2.4% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.