Duyuru • Feb 14
I-PEX Inc. to Delist from Prime Section of the Tokyo Stock Exchange, Effective March 10, 2025 I-PEX Inc. will be delisted from Prime Section of the Tokyo Stock Exchange effective from March 10, 2025, due to Reverse stock split. Reported Earnings • Feb 13
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥66.31 (up from JP¥68.41 loss in FY 2023). Revenue: JP¥64.5b (up 9.4% from FY 2023). Net income: JP¥1.23b (up JP¥2.50b from FY 2023). Profit margin: 1.9% (up from net loss in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 62%. Revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Duyuru • Dec 03
I-PEX Inc. to Report Fiscal Year 2024 Results on Feb 12, 2025 I-PEX Inc. announced that they will report fiscal year 2024 results on Feb 12, 2025 Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: JP¥0.54 (vs JP¥46.90 in 3Q 2023) Third quarter 2024 results: EPS: JP¥0.54 (down from JP¥46.90 in 3Q 2023). Revenue: JP¥16.4b (up 6.1% from 3Q 2023). Net income: JP¥10.0m (down 99% from 3Q 2023). Profit margin: 0.1% (down from 5.6% in 3Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to JP¥1,999, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Electronic industry in Japan. Total returns to shareholders of 2.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,875 per share. Duyuru • Nov 08
DMC Co., Ltd. proposed to acquire additional 60.5% stake in I-PEX Inc. (TSE:6640) for ¥33.1 billion in a tender offer transaction. DMC Co., Ltd. proposed to acquire additional 60.5% stake in I-PEX Inc. (TSE:6640) for ¥33.1 billion in a tender offer transaction on November 7, 2024. A cash consideration valued at ¥2950 per share will be paid by DMC Co., Ltd.
The Board of Directors of I-PEX Inc. formed a special committee for the transaction.
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor for DMC Co., Ltd. Daiwa Securities Co. Ltd. acted as financial advisor for DMC Co., Ltd. Duyuru • Oct 18
Spectra7 and I-PEX to Demonstrate 800G Active Copper Internal Cables for Next Generation 25.6T Data Center Switches at OCP Spectra7 Microsystems Inc. announced that I-PEX Inc. will offer the CABLINE®-CA IIEQ PLUS 112G active copper cable (ACC) to hyperscalers and OEM/ODMs that will include Spectra7's 112G PAM4 GC1122 GaugeChangerTM chips. I-PEX will be demonstrating this new product at the OCP Global Summit to be held in the San Jose Convention Center, Calif., October 15-17, 2024. CABLINE®-CA IIEQ PLUS 112G is an active copper cable solution that supports four lanes of 112 Gbps PAM4 data. With a height of only 2.0 mm and a width of 30.95 mm, the compact design minimizes the required PCB footprint, and allows it to be mounted close to the ASIC, underneath the heat sink. Large, bulky cables in servers and switches can greatly impede airflow, which is crucial for cooling the equipment. The CABLINE®-CA IIEQ PLUS 112G can use cables as small as 46 AWG that perform as well as much larger 36 AWG. The improved airflow within the equipment leads to better heat dissipation and enhanced cooling. The thinner cables also offer the advantage of increased flexibility, which facilitates easier wiring inside the equipment. The demonstration at OCP will show that an I-PEX CABLINE® 46 AWG micro-coaxial ACC cable assembly with the GC1122 will perform as well as a much larger passive 36 AWG micro-coaxial cable assembly for an internal system interconnect. GaugeChangerTM is a unique analog redriver technology that allows copper to extend to much longer lengths without the cost and power penalty of optics or DSP- based retimed copper solutions. Typical power savings of 700% to 1000% are achieved compared to these competing technologies. It works equally well at 25 Gbps NRZ, 50 Gbps PAM4 and 100 Gbps PAM4, enabling new connector standards of 100, 200, 400, and 800 Gbps. I-PEX anticipates delivering cable sample to their customers for qualification in the first half of 2025. Major Estimate Revision • Oct 05
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥65.0b to JP¥63.8b. EPS estimate also fell from JP¥173 per share to JP¥132 per share. Net income forecast to grow 154% next year vs 8.1% growth forecast for Electronic industry in Japan. Consensus price target of JP¥2,150 unchanged from last update. Share price fell 2.9% to JP¥1,633 over the past week. Duyuru • Aug 27
I-PEX Inc. to Report Q3, 2024 Results on Nov 07, 2024 I-PEX Inc. announced that they will report Q3, 2024 results on Nov 07, 2024 Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,874, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Electronic industry in Japan. Total returns to shareholders of 5.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,968 per share. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: JP¥38.11 (vs JP¥13.85 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥38.11 (up from JP¥13.85 loss in 2Q 2023). Revenue: JP¥16.3b (up 11% from 2Q 2023). Net income: JP¥707.0m (up JP¥964.0m from 2Q 2023). Profit margin: 4.3% (up from net loss in 2Q 2023). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Declared Dividend • Aug 10
Dividend of JP¥20.00 announced Dividend of JP¥20.00 is the same as last year. Ex-date: 27th December 2024 Payment date: 31st March 2025 Dividend yield will be 2.5%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 8x earnings). However, it is well covered by cash flows (27% cash payout ratio). The dividend has increased by an average of 15% 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 881% to bring the payout ratio under control. EPS is expected to grow by 209% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Buy Or Sell Opportunity • Jul 18
Now 22% undervalued Over the last 90 days, the stock has risen 24% to JP¥2,094. The fair value is estimated to be JP¥2,685, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 3,261% in the next 2 years. Buy Or Sell Opportunity • Jun 07
Now 20% undervalued Over the last 90 days, the stock has risen 5.0% to JP¥1,962. The fair value is estimated to be JP¥2,459, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 3,261% in the next 2 years. Duyuru • May 30
I-PEX Inc. to Report Q2, 2024 Results on Aug 08, 2024 I-PEX Inc. announced that they will report Q2, 2024 results on Aug 08, 2024 Price Target Changed • May 21
Price target increased by 7.7% to JP¥2,100 Up from JP¥1,950, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥2,112. Stock is up 64% over the past year. The company is forecast to post earnings per share of JP¥145 next year compared to a net loss per share of JP¥68.41 last year. Major Estimate Revision • May 21
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥63.2b to JP¥64.1b. EPS estimate increased from JP¥126 to JP¥145 per share. Net income forecast to grow 3,142% next year vs 14% growth forecast for Electronic industry in Japan. Consensus price target up from JP¥1,950 to JP¥2,100. Share price rose 6.0% to JP¥2,112 over the past week. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: JP¥16.87 (vs JP¥56.07 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥16.87 (up from JP¥56.07 loss in 1Q 2023). Revenue: JP¥14.7b (up 13% from 1Q 2023). Net income: JP¥313.0m (up JP¥1.35b from 1Q 2023). Profit margin: 2.1% (up from net loss in 1Q 2023). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. New Risk • Apr 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.8% 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 (5.8% average weekly change). Declared Dividend • Apr 11
Final dividend of JP¥20.00 announced Dividend of JP¥20.00 is the same as last year. Ex-date: 27th June 2024 Payment date: 4th September 2024 Dividend yield will be 2.3%, which is higher than the industry average of 1.4%. 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 (27% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. Duyuru • Feb 28
I-PEX Inc. to Report Q1, 2024 Results on May 10, 2024 I-PEX Inc. announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Feb 10
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: JP¥68.41 loss per share (down from JP¥9.06 profit in FY 2022). Revenue: JP¥59.0b (down 1.1% from FY 2022). Net loss: JP¥1.27b (down JP¥1.44b from profit in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Duyuru • Feb 09
I-PEX Inc., Annual General Meeting, Mar 28, 2024 I-PEX Inc., Annual General Meeting, Mar 28, 2024. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥20.00 per share at 2.7% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 01 April 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.5%). Price Target Changed • Dec 16
Price target decreased by 12% to JP¥1,500 Down from JP¥1,700, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of JP¥1,475. Stock is up 16% over the past year. The company is forecast to post a net loss per share of JP¥1.35 compared to earnings per share of JP¥9.06 last year. Duyuru • Dec 01
I-PEX Inc. to Report Fiscal Year 2023 Results on Feb 09, 2024 I-PEX Inc. announced that they will report fiscal year 2023 results on Feb 09, 2024 Reported Earnings • Nov 10
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: JP¥46.90 (down from JP¥62.59 in 3Q 2022). Revenue: JP¥15.4b (down 3.7% from 3Q 2022). Net income: JP¥870.0m (down 25% from 3Q 2022). Profit margin: 5.6% (down from 7.2% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 156%. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic 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 only fallen by 4% per year, which means it has not declined as severely as earnings. Duyuru • Aug 30
I-PEX Inc. to Report Q3, 2023 Results on Nov 09, 2023 I-PEX Inc. announced that they will report Q3, 2023 results on Nov 09, 2023 Price Target Changed • Aug 24
Price target increased by 9.7% to JP¥1,700 Up from JP¥1,550, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥1,740. Stock is up 25% over the past year. The company is forecast to post a net loss per share of JP¥66.06 compared to earnings per share of JP¥9.06 last year. New Risk • Aug 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.3% 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 (5.3% average weekly change). Reported Earnings • Aug 10
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: JP¥13.85 loss per share (down from JP¥31.99 profit in 2Q 2022). Revenue: JP¥14.7b (flat on 2Q 2022). Net loss: JP¥257.0m (down 143% from profit in 2Q 2022). Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥20.00 per share at 2.9% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 04 September 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.4%). Duyuru • May 31
I-PEX Inc. to Report Q2, 2023 Results on Aug 09, 2023 I-PEX Inc. announced that they will report Q2, 2023 results on Aug 09, 2023 Reported Earnings • May 14
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: JP¥56.06 loss per share (down from JP¥31.75 profit in 1Q 2022). Revenue: JP¥13.0b (down 12% from 1Q 2022). Net loss: JP¥1.04b (down 277% from profit in 1Q 2022). Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) also missed analyst estimates by 86%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Apr 28
Consensus EPS estimates fall by 29% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from JP¥21.54 to JP¥15.25 per share. Revenue forecast steady at JP¥59.7b. Net income forecast to grow 69% next year vs 3.1% growth forecast for Electronic industry in Japan. Consensus price target of JP¥1,650 unchanged from last update. Share price was steady at JP¥1,390 over the past week. Major Estimate Revision • Apr 25
Consensus EPS estimates fall by 29% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from JP¥21.54 to JP¥15.25 per share. Revenue forecast steady at JP¥59.7b. Net income forecast to grow 69% next year vs 3.5% growth forecast for Electronic industry in Japan. Consensus price target of JP¥1,650 unchanged from last update. Share price rose 2.9% to JP¥1,406 over the past week. Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 50% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from JP¥43.11 to JP¥21.54 per share. Revenue forecast steady at JP¥59.8b. Net income forecast to grow 138% next year vs 3.5% growth forecast for Electronic industry in Japan. Consensus price target up from JP¥1,400 to JP¥1,650. Share price fell 3.8% to JP¥1,354 over the past week. Reported Earnings • Apr 01
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: JP¥9.06 (down from JP¥317 in FY 2021). Revenue: JP¥59.6b (down 11% from FY 2021). Net income: JP¥168.0m (down 97% from FY 2021). Profit margin: 0.3% (down from 8.9% in FY 2021). Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 91%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic 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 fallen by 8% per year, which means it is significantly lagging earnings. Major Estimate Revision • Feb 23
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2023 has been updated. 2023 consensus EPS estimate fell from JP¥110 to JP¥89.89. Revenue forecast reaffirmed at JP¥60.0b. Net income forecast to grow 79% next year vs 6.1% growth forecast for Electronic industry in Japan. Consensus price target down from JP¥1,750 to JP¥1,400. Share price rose 4.6% to JP¥1,239 over the past week. Reported Earnings • Feb 12
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥9.06 (down from JP¥317 in FY 2021). Revenue: JP¥59.6b (down 11% from FY 2021). Net income: JP¥168.0m (down 97% from FY 2021). Profit margin: 0.3% (down from 8.9% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 72%. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Electronic 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 fallen by 23% per year, which means it is significantly lagging earnings. Duyuru • Feb 12
I-PEX Inc., Annual General Meeting, Mar 29, 2023 I-PEX Inc., Annual General Meeting, Mar 29, 2023. Major Estimate Revision • Jan 08
Consensus EPS estimates fall by 81% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥62.1b to JP¥59.7b. EPS estimate also fell from JP¥171 per share to JP¥32.30 per share. Net income forecast to shrink 49% next year vs 8.6% growth forecast for Electronic industry in Japan . Consensus price target down from JP¥2,000 to JP¥1,750. Share price fell 7.9% to JP¥1,097 over the past week. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 30 March 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.8%). Duyuru • Dec 06
I-PEX Inc. to Report Fiscal Year 2022 Results on Feb 10, 2023 I-PEX Inc. announced that they will report fiscal year 2022 results on Feb 10, 2023 Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: JP¥62.59 (down from JP¥107 in 3Q 2021). Revenue: JP¥16.0b (down 7.3% from 3Q 2021). Net income: JP¥1.16b (down 42% from 3Q 2021). Profit margin: 7.2% (down from 12% in 3Q 2021). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates by 15%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Executive Officer, Director of Corporate Planning Division & Director Konishi Reiji was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: JP¥62.59 (down from JP¥107 in 3Q 2021). Revenue: JP¥16.0b (down 7.3% from 3Q 2021). Net income: JP¥1.16b (down 42% from 3Q 2021). Profit margin: 7.2% (down from 12% in 3Q 2021). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates by 15%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Duyuru • Aug 31
I-PEX Inc. to Report Q3, 2022 Results on Nov 10, 2022 I-PEX Inc. announced that they will report Q3, 2022 results on Nov 10, 2022 Major Estimate Revision • Aug 26
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from JP¥199 to JP¥172 per share. Revenue forecast steady at JP¥62.1b. Net income forecast to shrink 26% next year vs 6.1% growth forecast for Electronic industry in Japan . Consensus price target of JP¥2,000 unchanged from last update. Share price was steady at JP¥1,394 over the past week. Reported Earnings • Aug 11
Second quarter 2022 earnings: EPS exceeds analyst expectations Second quarter 2022 results: EPS: JP¥31.99 (down from JP¥67.94 in 2Q 2021). Revenue: JP¥14.7b (down 12% from 2Q 2021). Net income: JP¥593.0m (down 53% from 2Q 2021). Profit margin: 4.0% (down from 7.6% in 2Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.1%. Over the next year, revenue is forecast to stay flat compared to a 9.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.6%). Duyuru • Jun 16
I-PEX Inc. to Report Q2, 2022 Results on Aug 09, 2022 I-PEX Inc. announced that they will report Q2, 2022 results on Aug 09, 2022 Reported Earnings • May 13
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: JP¥31.74 (down from JP¥89.79 in 1Q 2021). Revenue: JP¥14.8b (down 8.0% from 1Q 2021). Net income: JP¥588.0m (down 65% from 1Q 2021). Profit margin: 4.0% (down from 11% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 28%. Over the next year, revenue is expected to shrink by 4.0% compared to a 8.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to JP¥2,500 Down from JP¥2,850, the current price target is an average from 3 analysts. New target price is 82% above last closing price of JP¥1,371. Stock is down 26% over the past year. The company is forecast to post earnings per share of JP¥178 for next year compared to JP¥317 last year. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Executive Officer, Director of Corporate Planning Division & Director Konishi Reiji was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Apr 19
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥65.0b to JP¥62.5b. EPS estimate also fell from JP¥221 per share to JP¥178 per share. Net income forecast to shrink 44% next year vs 7.8% growth forecast for Electronic industry in Japan . Consensus price target down from JP¥2,850 to JP¥2,500. Share price was steady at JP¥1,377 over the past week. Duyuru • Apr 08
I-PEX Inc. to Report Q1, 2022 Results on May 11, 2022 I-PEX Inc. announced that they will report Q1, 2022 results on May 11, 2022 Duyuru • Feb 12
I-PEX Inc., Annual General Meeting, Mar 29, 2022 I-PEX Inc., Annual General Meeting, Mar 29, 2022. Reported Earnings • Feb 10
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: JP¥317 (up from JP¥61.48 in FY 2020). Revenue: JP¥66.9b (up 23% from FY 2020). Net income: JP¥5.92b (up 414% from FY 2020). Profit margin: 8.9% (up from 2.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Over the next year, revenue is expected to shrink by 2.8% 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 105% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 31 March 2022. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.1%). Price Target Changed • Dec 07
Price target decreased to JP¥3,100 Down from JP¥3,350, the current price target is an average from 3 analysts. New target price is 60% above last closing price of JP¥1,936. Stock is down 7.1% over the past year. The company is forecast to post earnings per share of JP¥280 for next year compared to JP¥61.48 last year. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS JP¥107 (vs JP¥31.41 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥17.3b (up 20% from 3Q 2020). Net income: JP¥2.00b (up 240% from 3Q 2020). Profit margin: 12% (up from 4.1% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥2,074, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Electronic industry in Japan. Total returns to shareholders of 62% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,742 per share. Upcoming Dividend • Jun 23
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 02 September 2021. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.1%). Lower than average of industry peers (1.2%). Major Estimate Revision • Jun 08
Consensus EPS estimates increase to JP¥244 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from JP¥62.0b to JP¥64.7b. EPS estimate increased from JP¥188 to JP¥244 per share. Net income forecast to grow 94% next year vs 22% growth forecast for Electronic industry in Japan. Consensus price target up from JP¥3,000 to JP¥3,350. Share price rose 9.1% to JP¥2,639 over the past week. Price Target Changed • May 19
Price target increased to JP¥3,000 Up from JP¥2,500, the current price target is an average from 3 analysts. New target price is 36% above last closing price of JP¥2,205. Stock is down 8.2% over the past year. Major Estimate Revision • May 19
Consensus EPS estimates increase to JP¥188 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from JP¥58.5b to JP¥62.0b. EPS estimate increased from JP¥127 to JP¥188 per share. Net income forecast to grow 46% next year vs 19% growth forecast for Electronic industry in Japan. Consensus price target up from JP¥2,500 to JP¥3,000. Share price fell 3.1% to JP¥2,205 over the past week. Reported Earnings • May 16
First quarter 2021 earnings released: EPS JP¥89.79 (vs JP¥24.14 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥16.1b (up 26% from 1Q 2020). Net income: JP¥1.68b (up 272% from 1Q 2020). Profit margin: 11% (up from 3.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Major Estimate Revision • May 13
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from JP¥127 to JP¥158. Revenue forecast unchanged at JP¥59.0b. Net income forecast to grow 119% next year vs 20% growth forecast for Electronic industry in Japan. Consensus price target of JP¥2,500 unchanged from last update. Share price rose 14% to JP¥2,185 over the past week. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improved over the past week After last week's 22% share price gain to JP¥2,275, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Electronic industry in Japan. Total returns to shareholders of 6.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,094 per share. Reported Earnings • Apr 03
Full year 2020 earnings released The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: JP¥54.5b (flat on FY 2019). Net income: JP¥1.15b (up 24% from FY 2019). Profit margin: 2.1% (up from 1.7% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has increased by 1% per year. Duyuru • Feb 12
I-PEX Inc., Annual General Meeting, Mar 30, 2021 I-PEX Inc., Annual General Meeting, Mar 30, 2021. Reported Earnings • Feb 11
Full year 2020 earnings released: EPS JP¥61.48 (vs JP¥54.81 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: JP¥54.5b (flat on FY 2019). Net income: JP¥1.15b (up 24% from FY 2019). Profit margin: 2.1% (up from 1.7% in FY 2019). 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 6% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 10
New 90-day high: JP¥2,291 The company is up 20% from its price of JP¥1,910 on 12 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥2,838 per share. Is New 90 Day High Low • Jan 25
New 90-day high: JP¥2,219 The company is up 13% from its price of JP¥1,963 on 27 October 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥2,801 per share. Price Target Changed • Dec 01
Price target lowered to JP¥2,550 Down from JP¥2,800, the current price target is an average from 3 analysts. The new target price is 30% above the current share price of JP¥1,964. As of last close, the stock is down 28% over the past year. Duyuru • Oct 10
I-PEX Inc. to Report Q3, 2020 Results on Nov 06, 2020 I-PEX Inc. announced that they will report Q3, 2020 results on Nov 06, 2020 Duyuru • Jun 29
Dai-ichi Seiko Co., Ltd. to Report Q2, 2020 Results on Aug 07, 2020 Dai-ichi Seiko Co., Ltd. announced that they will report Q2, 2020 results on Aug 07, 2020