Reported Earnings • May 20
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥12.60 (up from JP¥3.85 loss in FY 2025). Revenue: JP¥49.2b (down 6.5% from FY 2025). Net income: JP¥684.0m (up JP¥893.0m from FY 2025). Profit margin: 1.4% (up from net loss in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 37%. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year. Duyuru • May 15
Nippon Concrete Industries Co., Ltd., Annual General Meeting, Jun 26, 2026 Nippon Concrete Industries Co., Ltd., Annual General Meeting, Jun 26, 2026. Duyuru • May 09
Nippon Concrete Industries Co., Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 Nippon Concrete Industries Co., Ltd. announced that they will report fiscal year 2026 results on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥4.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 12 June 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.8%). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥0.11 (vs JP¥0.52 in 3Q 2025) Third quarter 2026 results: EPS: JP¥0.11 (down from JP¥0.52 in 3Q 2025). Revenue: JP¥13.4b (down 2.0% from 3Q 2025). Net income: JP¥6.00m (down 79% from 3Q 2025). Profit margin: 0% (down from 0.2% in 3Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Duyuru • Feb 15
Nippon Concrete Industries Co., Ltd. Revises Consolidated Earnings Guidance for the Full Year Ending March 31, 2026 Nippon Concrete Industries Co., Ltd. revised consolidated earnings guidance for the full year ending March 31, 2026. For the full year, the company expects net sales of JPY 49,000 million, operating profit of JPY 150 million, profit attributable to owners of parent of JPY 500 million and basic earnings per share of JPY 9.20 compared to previous guidance of net sales of JPY 55,000 million, operating profit of JPY 1,100 million, profit attributable to owners of parent of JPY 1,000 million and basic earnings per share of JPY 18.41. Reasons for revision of full-year consolidated financial result forecasts: Net sales are expected to be significantly lower than projections due to weak shipment growth in the Foundation Business caused by challenges in securing orders during the previous period, delays in projects during the latter half of the fiscal year, differences in the timing of inspections in the RC segment, etc. Profit projections have been revised downwards due mainly to a delay in the recovery of production volumes at manufacturing subsidiaries amid declining net sales, which is expected to lead to a deterioration in earnings. Although a decline in profits versus projections is expected as mentioned earlier, the year-end dividend is still scheduled to be JPY 4 as previously forecasted. Duyuru • Dec 12
Nippon Concrete Industries Co., Ltd. to Report Q3, 2026 Results on Feb 13, 2026 Nippon Concrete Industries Co., Ltd. announced that they will report Q3, 2026 results on Feb 13, 2026 Declared Dividend • Dec 02
First half dividend of JP¥4.00 announced Shareholders will receive a dividend of JP¥4.00. Ex-date: 30th March 2026 Payment date: 12th June 2026 Dividend yield will be 2.4%, 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 and having 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 4.8% per year over the past 10 years. However, payments have been volatile during that time. Reported Earnings • Nov 18
Second quarter 2026 earnings released: EPS: JP¥5.76 (vs JP¥3.06 in 2Q 2025) Second quarter 2026 results: EPS: JP¥5.76 (up from JP¥3.06 in 2Q 2025). Revenue: JP¥12.9b (up 1.9% from 2Q 2025). Net income: JP¥312.9m (up 89% from 2Q 2025). Profit margin: 2.4% (up from 1.3% in 2Q 2025). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥4.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.7%). New Risk • Sep 12
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 4.9% 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. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (4.9% average weekly change). Duyuru • Aug 23
Nippon Concrete Industries Co., Ltd. to Report Q2, 2026 Results on Nov 14, 2025 Nippon Concrete Industries Co., Ltd. announced that they will report Q2, 2026 results on Nov 14, 2025 Reported Earnings • Aug 10
First quarter 2026 earnings released: EPS: JP¥4.68 (vs JP¥4.43 in 1Q 2025) First quarter 2026 results: EPS: JP¥4.68 (up from JP¥4.43 in 1Q 2025). Revenue: JP¥10.9b (down 15% from 1Q 2025). Net income: JP¥254.0m (up 5.5% from 1Q 2025). Profit margin: 2.3% (up from 1.9% in 1Q 2025). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend reduced to JP¥4.00 Dividend of JP¥4.00 is 38% lower than last year. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not covered by earnings (382% earnings payout ratio) and 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 10% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 324% to bring the payout ratio under control. EPS is expected to grow by 278% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Jul 05
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: JP¥3.85 loss per share (down from JP¥11.31 profit in FY 2024). Revenue: JP¥52.7b (down 1.9% from FY 2024). Net loss: JP¥209.0m (down 134% from profit in FY 2024). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Duyuru • Jul 03
Nippon Concrete Industries Co., Ltd. to Report Q1, 2026 Results on Aug 08, 2025 Nippon Concrete Industries Co., Ltd. announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 20
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: JP¥3.85 loss per share (down from JP¥11.31 profit in FY 2024). Revenue: JP¥52.7b (down 1.9% from FY 2024). Net loss: JP¥209.0m (down 134% from profit in FY 2024). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Duyuru • May 15
Nippon Concrete Industries Co., Ltd., Annual General Meeting, Jun 27, 2025 Nippon Concrete Industries Co., Ltd., Annual General Meeting, Jun 27, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥6.50 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 12 June 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.8%). Duyuru • Mar 06
Nippon Concrete Industries Co., Ltd. to Report Fiscal Year 2025 Results on May 15, 2025 Nippon Concrete Industries Co., Ltd. announced that they will report fiscal year 2025 results on May 15, 2025 Duyuru • Feb 27
Nippon Concrete Industries Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025 Nippon Concrete Industries Co., Ltd. provided consolidated earnings guidance for the fiscal year ending March 31, 2025. For the year, the company expects net sales of JPY 52,000 million, operating profit of JPY 1,200 million, profit attributable to owners of parent of JPY 550 million and basic earnings per share of JPY 10.12. Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥0.52 (vs JP¥2.39 in 3Q 2024) Third quarter 2025 results: EPS: JP¥0.52 (down from JP¥2.39 in 3Q 2024). Revenue: JP¥13.7b (down 1.1% from 3Q 2024). Net income: JP¥28.0m (down 79% from 3Q 2024). Profit margin: 0.2% (down from 0.9% in 3Q 2024). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Duyuru • Dec 04
Nippon Concrete Industries Co., Ltd. to Report Q3, 2025 Results on Feb 14, 2025 Nippon Concrete Industries Co., Ltd. announced that they will report Q3, 2025 results on Feb 14, 2025 Declared Dividend • Dec 03
First half dividend of JP¥6.50 announced Shareholders will receive a dividend of JP¥6.50. Ex-date: 28th March 2025 Payment date: 12th June 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not covered by earnings (123% earnings payout ratio) nor is it covered by cash flows (224% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 37% to bring the payout ratio under control. EPS is expected to grow by 186% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥379, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 9x in the Basic Materials industry in Japan. Total returns to shareholders of 51% over the past three years. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥6.50 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 30 December 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.7%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.9%). Duyuru • Aug 20
Nippon Concrete Industries Co., Ltd. to Report Q2, 2025 Results on Nov 14, 2024 Nippon Concrete Industries Co., Ltd. announced that they will report Q2, 2025 results on Nov 14, 2024 Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: JP¥5.80 (vs JP¥6.34 in 1Q 2024) First quarter 2025 results: EPS: JP¥5.80 (down from JP¥6.34 in 1Q 2024). Revenue: JP¥13.0b (up 2.5% from 1Q 2024). Net income: JP¥315.0m (down 8.4% from 1Q 2024). Profit margin: 2.4% (down from 2.7% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. New Risk • Aug 05
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 6.5% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.5% average weekly change). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to JP¥287, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Basic Materials industry in Japan. Total loss to shareholders of 2.2% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥6.50 announced Shareholders will receive a dividend of JP¥6.50. Ex-date: 27th September 2024 Payment date: 30th December 2024 Dividend yield will be 3.3%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 122% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 21
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥11.31 (up from JP¥8.07 loss in FY 2023). Revenue: JP¥53.7b (up 1.3% from FY 2023). Net income: JP¥614.0m (up JP¥1.05b from FY 2023). Profit margin: 1.1% (up from net loss in FY 2023). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 53%. Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. New Risk • May 21
New major risk - Revenue and earnings growth Earnings have declined by 20% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 20% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Duyuru • May 17
Nippon Concrete Industries Co., Ltd., Annual General Meeting, Jun 27, 2024 Nippon Concrete Industries Co., Ltd., Annual General Meeting, Jun 27, 2024. Duyuru • Mar 02
Nippon Concrete Industries Co., Ltd. to Report Fiscal Year 2024 Results on May 15, 2024 Nippon Concrete Industries Co., Ltd. announced that they will report fiscal year 2024 results on May 15, 2024 Duyuru • Feb 16
Nippon Concrete Industries Co., Ltd. to Report Q3, 2024 Results on Mar 14, 2024 Nippon Concrete Industries Co., Ltd. announced that they will report Q3, 2024 results on Mar 14, 2024 Reported Earnings • Jan 23
Second quarter 2024 earnings released: EPS: JP¥8.55 (vs JP¥0.70 in 2Q 2023) Second quarter 2024 results: EPS: JP¥8.55 (up from JP¥0.70 in 2Q 2023). Revenue: JP¥13.8b (down 2.2% from 2Q 2023). Net income: JP¥464.0m (up JP¥426.0m from 2Q 2023). Profit margin: 3.4% (up from 0.3% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 07
First quarter 2024 earnings released: EPS: JP¥6.34 (vs JP¥0.20 in 1Q 2023) First quarter 2024 results: EPS: JP¥6.34 (up from JP¥0.20 in 1Q 2023). Revenue: JP¥12.6b (up 20% from 1Q 2023). Net income: JP¥344.0m (up JP¥333.0m from 1Q 2023). Profit margin: 2.7% (up from 0.1% in 1Q 2023). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Aug 02
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: JP¥8.07 loss per share (down from JP¥15.62 profit in FY 2022). Revenue: JP¥53.0b (up 12% from FY 2022). Net loss: JP¥439.0m (down 150% from profit in FY 2022). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. New Risk • Jun 12
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • May 23
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: JP¥8.07 loss per share (down from JP¥15.62 profit in FY 2022). Revenue: JP¥53.0b (up 12% from FY 2022). Net loss: JP¥439.0m (down 150% from profit in FY 2022). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Duyuru • May 21
Nippon Concrete Industries Co., Ltd., Annual General Meeting, Jun 29, 2023 Nippon Concrete Industries Co., Ltd., Annual General Meeting, Jun 29, 2023. Reported Earnings • Feb 16
Third quarter 2023 earnings released: JP¥2.21 loss per share (vs JP¥9.73 profit in 3Q 2022) Third quarter 2023 results: JP¥2.21 loss per share (down from JP¥9.73 profit in 3Q 2022). Revenue: JP¥13.5b (down 1.7% from 3Q 2022). Net loss: JP¥120.0m (down 122% from profit in 3Q 2022). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Duyuru • Nov 27
Nippon Concrete Industries Co., Ltd. to Report Q3, 2023 Results on Feb 14, 2023 Nippon Concrete Industries Co., Ltd. announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥0.70 (vs JP¥9.62 in 2Q 2022) Second quarter 2023 results: EPS: JP¥0.70 (down from JP¥9.62 in 2Q 2022). Revenue: JP¥14.1b (up 15% from 2Q 2022). Net income: JP¥38.0m (down 93% from 2Q 2022). Profit margin: 0.3% (down from 4.4% in 2Q 2022). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Basic Materials 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 fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 4 highly experienced directors. 2 independent directors (9 non-independent directors). Outside Independent Director Nobunori Ishizaki was the last independent director to join the board, commencing their role in 2017. 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¥3.50 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.9%). Duyuru • Aug 28
Nippon Concrete Industries Co., Ltd. to Report Q2, 2023 Results on Nov 14, 2022 Nippon Concrete Industries Co., Ltd. announced that they will report Q2, 2023 results on Nov 14, 2022 Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥0.20 (vs JP¥1.83 in 1Q 2022) First quarter 2023 results: EPS: JP¥0.20 (down from JP¥1.83 in 1Q 2022). Revenue: JP¥10.5b (up 18% from 1Q 2022). Net income: JP¥11.0m (down 89% from 1Q 2022). Profit margin: 0.1% (down from 1.2% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 13%, compared to a 7.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 01
Nippon Concrete Industries Co., Ltd. to Report Q1, 2023 Results on Aug 10, 2022 Nippon Concrete Industries Co., Ltd. announced that they will report Q1, 2023 results on Aug 10, 2022 Reported Earnings • May 17
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: JP¥15.58 (down from JP¥33.27 in FY 2021). Revenue: JP¥47.4b (down 3.1% from FY 2021). Net income: JP¥874.0m (down 53% from FY 2021). Profit margin: 1.8% (down from 3.8% in FY 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 40%. Over the next year, revenue is forecast to grow 16%, compared to a 5.9% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Duyuru • May 15
Nippon Concrete Industries Co., Ltd., Annual General Meeting, Jun 29, 2022 Nippon Concrete Industries Co., Ltd., Annual General Meeting, Jun 29, 2022. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 5 highly experienced directors. No independent directors (9 non-independent directors). External Director Hiroaki Matsuoka was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Duyuru • Apr 08
Nippon Concrete Industries Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Nippon Concrete Industries Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥4.50 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 15 June 2022. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (2.7%). Reported Earnings • Feb 16
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥9.73 (down from JP¥11.95 in 3Q 2021). Revenue: JP¥13.7b (up 6.5% from 3Q 2021). Net income: JP¥546.0m (down 19% from 3Q 2021). Profit margin: 4.0% (down from 5.2% in 3Q 2021). Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 7.8% while the industry in Japan is not expected to grow. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 25
Nippon Concrete Industries Co., Ltd. Provides Consolidated Earnings Guidance for the Year Ending March 31, 2022 Nippon Concrete Industries Co., Ltd. provided consolidated earnings guidance for the year ending March 31, 2022. For the year, the company expected net sales of JPY 51,000 million, operating profit of JPY 1,600 million and profit attributable to owners of parent of JPY 1,450 million or basic earnings per share of JPY 25.73. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS JP¥9.62 (vs JP¥8.44 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥12.2b (up 3.2% from 2Q 2021). Net income: JP¥541.0m (up 14% from 2Q 2021). Profit margin: 4.4% (up from 4.0% in 2Q 2021). 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 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥4.50 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 December 2021. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (2.4%). Reported Earnings • Aug 13
First quarter 2022 earnings released: EPS JP¥1.63 (vs JP¥4.86 in 1Q 2021) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥8.90b (down 19% from 1Q 2021). Net income: JP¥92.0m (down 66% from 1Q 2021). Profit margin: 1.0% (down from 2.5% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Duyuru • Mar 21
Nippon Concrete Industries Co., Ltd. to Report Fiscal Year 2021 Results on May 13, 2021 Nippon Concrete Industries Co., Ltd. announced that they will report fiscal year 2021 results on May 13, 2021 Duyuru • Feb 26
Nippon Concrete Industries Co., Ltd. Revises Earnings Guidance for the Year Ending March 31, 2021 Nippon Concrete Industries Co., Ltd. revised earnings guidance for the year ending March 31, 2021. For the year, the company expects net sales of JPY 47,500 million, Operating profit of JPY 2,500 million, Profit attributable to owners of parent of JPY 1,600 million or JPY 28.49 per basic share against net sales of JPY 47,000 million, Operating profit of JPY 2,050 million, Profit attributable to owners of parent of JPY 1,350 million or JPY 24.03 per basic share expected previously. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improved over the past week After last week's 21% share price gain to JP¥437, the stock is trading at a trailing P/E ratio of 15.6x, up from the previous P/E ratio of 12.9x. This compares to an average P/E of 9x in the Basic Materials industry in Japan. Total return to shareholders over the past three years is a loss of 3.0%. Reported Earnings • Feb 14
Third quarter 2021 earnings released: EPS JP¥11.95 (vs JP¥0.13 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥12.9b (up 18% from 3Q 2020). Net income: JP¥671.0m (up JP¥664.0m from 3Q 2020). Profit margin: 5.2% (up from 0.1% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 14
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 3.8%, compared to a 1.8% growth forecast for the Basic Materials industry in Japan. Is New 90 Day High Low • Feb 12
New 90-day high: JP¥342 The company is up 7.0% from its price of JP¥320 on 13 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Basic Materials industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥485 per share. Is New 90 Day High Low • Jan 17
New 90-day low: JP¥306 The company is down 2.0% from its price of JP¥311 on 19 October 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥480 per share. Duyuru • Dec 05
Nippon Concrete Industries Co., Ltd. to Report Q3, 2021 Results on Feb 12, 2021 Nippon Concrete Industries Co., Ltd. announced that they will report Q3, 2021 results on Feb 12, 2021 Duyuru • Sep 06
Nippon Concrete Industries Co., Ltd. to Report Q2, 2021 Results on Nov 12, 2020 Nippon Concrete Industries Co., Ltd. announced that they will report Q2, 2021 results on Nov 12, 2020 Duyuru • Jun 28
Nippon Concrete Industries Co., Ltd. to Report Q1, 2021 Results on Aug 12, 2020 Nippon Concrete Industries Co., Ltd. announced that they will report Q1, 2021 results on Aug 12, 2020 