Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥4,175, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 21x in the Semiconductor industry in Japan. Total returns to shareholders of 69% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥8,050 per share. Duyuru • May 30
Tazmo Co., Ltd. to Report Q2, 2026 Results on Aug 10, 2026 Tazmo Co., Ltd. announced that they will report Q2, 2026 results on Aug 10, 2026 Reported Earnings • May 20
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: JP¥7.67 (down from JP¥58.70 in 1Q 2025). Revenue: JP¥5.97b (down 21% from 1Q 2025). Net income: JP¥111.0m (down 87% from 1Q 2025). Profit margin: 1.9% (down from 11% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 26%. Earnings per share (EPS) also missed analyst estimates by 78%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year and the company’s share price has also increased by 24% per year. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥3,895, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 22x in the Semiconductor industry in Japan. Total returns to shareholders of 107% over the past three years. Board Change • May 15
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Michio Adachi was the last independent director to join the board, commencing their role in 2026. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,560, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 21x in the Semiconductor industry in Japan. Total returns to shareholders of 40% over the past three years. Reported Earnings • Mar 28
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥244 (down from JP¥290 in FY 2024). Revenue: JP¥35.4b (down 1.2% from FY 2024). Net income: JP¥3.54b (down 17% from FY 2024). Profit margin: 10.0% (down from 12% in FY 2024). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 8.9%. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Semiconductor 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. Price Target Changed • Feb 28
Price target increased by 11% to JP¥4,000 Up from JP¥3,600, the current price target is provided by 1 analyst. New target price is 55% above last closing price of JP¥2,575. Stock is up 11% over the past year. The company is forecast to post earnings per share of JP¥196 for next year compared to JP¥244 last year. Major Estimate Revision • Feb 20
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥37.5b to JP¥36.2b. EPS estimate also fell from JP¥250 per share to JP¥206 per share. Net income forecast to shrink 15% next year vs 19% growth forecast for Semiconductor industry in Japan . Consensus price target of JP¥3,500 unchanged from last update. Share price fell 8.3% to JP¥2,553 over the past week. Reported Earnings • Feb 16
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥244 (down from JP¥290 in FY 2024). Revenue: JP¥35.4b (down 1.2% from FY 2024). Net income: JP¥3.54b (down 17% from FY 2024). Profit margin: 10.0% (down from 12% in FY 2024). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 8.9%. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Semiconductor 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 19% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 13
Tazmo Co., Ltd., Annual General Meeting, Mar 24, 2026 Tazmo Co., Ltd., Annual General Meeting, Mar 24, 2026. New Risk • Jan 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥2,646, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 20x in the Semiconductor industry in Japan. Total returns to shareholders of 52% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥34.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 27 March 2026. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Duyuru • Dec 03
Tazmo Co., Ltd. to Report Fiscal Year 2025 Final Results on Feb 13, 2026 Tazmo Co., Ltd. announced that they will report fiscal year 2025 final results on Feb 13, 2026 Reported Earnings • Nov 18
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: JP¥106 (up from JP¥70.11 in 3Q 2024). Revenue: JP¥10.3b (up 22% from 3Q 2024). Net income: JP¥1.53b (up 49% from 3Q 2024). Profit margin: 15% (up from 12% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) also surpassed analyst estimates by 120%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Duyuru • Sep 03
Tazmo Co., Ltd. to Report Q3, 2025 Results on Nov 14, 2025 Tazmo Co., Ltd. announced that they will report Q3, 2025 results on Nov 14, 2025 Declared Dividend • Aug 10
Dividend of JP¥34.00 announced Shareholders will receive a dividend of JP¥34.00. Ex-date: 29th December 2025 Payment date: 27th March 2026 Dividend yield will be 1.7%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (13% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 35% 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 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 09
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: JP¥54.56 (down from JP¥112 in 2Q 2024). Revenue: JP¥9.27b (down 10% from 2Q 2024). Net income: JP¥789.1m (down 52% from 2Q 2024). Profit margin: 8.5% (down from 16% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Semiconductor 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 15% per year, which means it is significantly lagging earnings growth. Duyuru • May 31
Tazmo Co., Ltd. to Report Q2, 2025 Results on Aug 08, 2025 Tazmo Co., Ltd. announced that they will report Q2, 2025 results on Aug 08, 2025 Reported Earnings • May 19
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: JP¥58.64 (up from JP¥29.03 in 1Q 2024). Revenue: JP¥7.52b (up 27% from 1Q 2024). Net income: JP¥855.0m (up 101% from 1Q 2024). Profit margin: 11% (up from 7.2% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 71%. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Semiconductor 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 12% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 05
Tazmo Co., Ltd. to Report Q1, 2025 Results on May 14, 2025 Tazmo Co., Ltd. announced that they will report Q1, 2025 results on May 14, 2025 Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,685, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 14x in the Semiconductor industry in Japan. Total returns to shareholders of 12% over the past three years. New Risk • Mar 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,113, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Semiconductor industry in Japan. Total returns to shareholders of 39% over the past three years. Reported Earnings • Feb 16
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥290 (up from JP¥161 in FY 2023). Revenue: JP¥35.9b (up 27% from FY 2023). Net income: JP¥4.25b (up 80% from FY 2023). Profit margin: 12% (up from 8.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Semiconductor 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 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 28 March 2025. Payout ratio is a comfortable 9.0% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.7%). Duyuru • Dec 03
Tazmo Co., Ltd. to Report Fiscal Year 2024 Results on Feb 14, 2025 Tazmo Co., Ltd. announced that they will report fiscal year 2024 results on Feb 14, 2025 Reported Earnings • Nov 14
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: JP¥70.08 (down from JP¥95.78 in 3Q 2023). Revenue: JP¥8.50b (down 1.2% from 3Q 2023). Net income: JP¥1.03b (down 27% from 3Q 2023). Profit margin: 12% (down from 16% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates by 46%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 21% per year. Price Target Changed • Oct 10
Price target decreased by 11% to JP¥4,500 Down from JP¥5,033, the current price target is an average from 3 analysts. New target price is 43% above last closing price of JP¥3,150. Stock is up 2.6% over the past year. The company is forecast to post earnings per share of JP¥239 for next year compared to JP¥161 last year. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,913, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Semiconductor industry in Japan. Total returns to shareholders of 85% over the past three years. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥2,875, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Semiconductor industry in Japan. Total returns to shareholders of 71% over the past three years. Duyuru • Aug 27
Tazmo Co., Ltd. to Report Q3, 2024 Results on Nov 11, 2024 Tazmo Co., Ltd. announced that they will report Q3, 2024 results on Nov 11, 2024 Reported Earnings • Aug 14
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥112 (up from JP¥24.38 in 2Q 2023). Revenue: JP¥10.3b (up 57% from 2Q 2023). Net income: JP¥1.64b (up 361% from 2Q 2023). Profit margin: 16% (up from 5.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 44%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Aug 11
Dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 27th December 2024 Payment date: 28th March 2025 Dividend yield will be 1.1%, which is about the same as the industry average. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 31% After last week's 31% share price decline to JP¥2,240, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 17x in the Semiconductor industry in Japan. Total returns to shareholders of 35% over the past three years. Duyuru • Jun 02
Tazmo Co., Ltd. to Report Q2, 2024 Results on Aug 09, 2024 Tazmo Co., Ltd. announced that they will report Q2, 2024 results on Aug 09, 2024 Reported Earnings • May 18
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: EPS: JP¥29.03 (up from JP¥15.05 loss in 1Q 2023). Revenue: JP¥5.91b (up 53% from 1Q 2023). Net income: JP¥425.0m (up JP¥644.0m from 1Q 2023). Profit margin: 7.2% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 17%. Earnings per share (EPS) exceeded analyst estimates by 5.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥4,370, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 21x in the Semiconductor industry in Japan. Total returns to shareholders of 138% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥7,946 per share. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥4,110, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 22x in the Semiconductor industry in Japan. Total returns to shareholders of 165% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥7,908 per share. Duyuru • Feb 24
Tazmo Co., Ltd. to Report Q1, 2024 Results on May 14, 2024 Tazmo Co., Ltd. announced that they will report Q1, 2024 results on May 14, 2024 Duyuru • Feb 14
Tazmo Co., Ltd., Annual General Meeting, Mar 27, 2024 Tazmo Co., Ltd., Annual General Meeting, Mar 27, 2024. Reported Earnings • Feb 14
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: JP¥161. Revenue: JP¥28.2b (up 16% from FY 2022). Net income: JP¥2.36b (up 4.1% from FY 2022). Profit margin: 8.4% (down from 9.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 1.7%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Semiconductor industry in Japan. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to JP¥4,025, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 20x in the Semiconductor industry in Japan. Total returns to shareholders of 170% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,277 per share. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥3,425, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 20x in the Semiconductor industry in Japan. Total returns to shareholders of 136% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,950 per share. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥21.00 per share at 0.7% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 29 March 2024. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.2%). Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥3,075, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Semiconductor industry in Japan. Total returns to shareholders of 108% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,008 per share. Duyuru • Dec 05
Tazmo Co., Ltd. to Report Fiscal Year 2023 Results on Feb 13, 2024 Tazmo Co., Ltd. announced that they will report fiscal year 2023 results on Feb 13, 2024 Price Target Changed • Nov 28
Price target increased by 9.9% to JP¥3,900 Up from JP¥3,550, the current price target is an average from 2 analysts. New target price is 13% above last closing price of JP¥3,440. Stock is up 88% over the past year. The company is forecast to post earnings per share of JP¥174 for next year compared to JP¥162 last year. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to JP¥3,820, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Semiconductor industry in Japan. Total returns to shareholders of 166% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,141 per share. Reported Earnings • Nov 15
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: JP¥95.76 (up from JP¥12.36 in 3Q 2022). Revenue: JP¥8.60b (up 111% from 3Q 2022). Net income: JP¥1.40b (up JP¥1.22b from 3Q 2022). Profit margin: 16% (up from 4.4% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 100%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Nov 15
Consensus EPS estimates increase by 15%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from JP¥31.5b to JP¥29.8b. EPS estimate rose from JP¥152 to JP¥174. Net income forecast to grow 162% next year vs 0.8% growth forecast for Semiconductor industry in Japan. Consensus price target up from JP¥3,350 to JP¥3,550. Share price rose 36% to JP¥3,720 over the past week. Price Target Changed • Nov 14
Price target increased by 11% to JP¥3,550 Up from JP¥3,200, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥3,410. Stock is up 88% over the past year. The company is forecast to post earnings per share of JP¥174 for next year compared to JP¥162 last year. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,591, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Semiconductor industry in Japan. Total returns to shareholders of 67% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,093 per share. Price Target Changed • Oct 05
Price target increased by 9.8% to JP¥3,350 Up from JP¥3,050, the current price target is an average from 2 analysts. New target price is 17% above last closing price of JP¥2,854. Stock is up 106% over the past year. The company is forecast to post earnings per share of JP¥152 for next year compared to JP¥162 last year. Buying Opportunity • Sep 12
Now 24% undervalued Over the last 90 days, the stock is up 25%. The fair value is estimated to be JP¥4,122, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has grown by 7.0%. Revenue is forecast to grow by 73% in 2 years. Earnings is forecast to grow by 215% in the next 2 years. Duyuru • Aug 27
Tazmo Co., Ltd. to Report Q3, 2023 Results on Nov 13, 2023 Tazmo Co., Ltd. announced that they will report Q3, 2023 results on Nov 13, 2023 Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to JP¥3,000, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Semiconductor industry in Japan. Total returns to shareholders of 118% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,922 per share. New Risk • Aug 16
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 31% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (31% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Profit margins are more than 30% lower than last year (5.3% net profit margin). New Risk • Aug 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: 5.3% Last year net profit margin: 9.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.6% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (5.3% net profit margin). Reported Earnings • Aug 12
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: JP¥24.38 (down from JP¥52.74 in 2Q 2022). Revenue: JP¥6.57b (down 4.1% from 2Q 2022). Net income: JP¥356.0m (down 50% from 2Q 2022). Profit margin: 5.4% (down from 10% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 51%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Aug 08
Now 22% undervalued Over the last 90 days, the stock is up 39%. The fair value is estimated to be JP¥3,286, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 65% in 2 years. Earnings is forecast to grow by 128% in the next 2 years. Duyuru • Jul 09
Tazmo Co., Ltd. to Report Q2, 2023 Results on Aug 10, 2023 Tazmo Co., Ltd. announced that they will report Q2, 2023 results on Aug 10, 2023 Buying Opportunity • Jul 06
Now 22% undervalued Over the last 90 days, the stock is up 25%. The fair value is estimated to be JP¥3,025, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 61% in 2 years. Earnings is forecast to grow by 119% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥2,174, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Semiconductor industry in Japan. Total returns to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,866 per share.