Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥2,327, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 18x in the Electronic industry in Japan. Total returns to shareholders of 368% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,433 per share. Reported Earnings • May 09
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥377 (up from JP¥103 in FY 2025). Revenue: JP¥105.9b (up 4.9% from FY 2025). Net income: JP¥9.38b (up 23% from FY 2025). Profit margin: 8.9% (up from 7.6% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 18%. Revenue is forecast to grow 4.2% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 51% per year whereas the company’s share price has increased by 54% per year. New Risk • Mar 30
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 6.7% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: JP¥107 (vs JP¥105 in 3Q 2025) Third quarter 2026 results: EPS: JP¥107 (up from JP¥105 in 3Q 2025). Revenue: JP¥27.2b (up 1.8% from 3Q 2025). Net income: JP¥2.65b (up 1.6% from 3Q 2025). Profit margin: 9.7% (in line with 3Q 2025). Revenue is forecast to grow 4.4% 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 26% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 09
First half dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 1.8%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (15% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 18% 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 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥89.07 (vs JP¥69.00 in 2Q 2025) Second quarter 2026 results: EPS: JP¥89.07 (up from JP¥69.00 in 2Q 2025). Revenue: JP¥26.2b (up 6.4% from 2Q 2025). Net income: JP¥2.22b (up 29% from 2Q 2025). Profit margin: 8.4% (up from 7.0% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.2% 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 26% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 09 December 2025. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥4,140, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Electronic industry in Japan. Total returns to shareholders of 244% over the past three years. Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: JP¥32.17 (vs JP¥22.91 in 1Q 2025) First quarter 2026 results: EPS: JP¥32.17 (up from JP¥22.91 in 1Q 2025). Revenue: JP¥22.4b (up 7.1% from 1Q 2025). Net income: JP¥800.0m (up 41% from 1Q 2025). Profit margin: 3.6% (up from 2.7% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 09
Final dividend increased to JP¥40.00 Dividend of JP¥40.00 is 38% higher than last year. Ex-date: 29th September 2025 Payment date: 9th December 2025 Dividend yield will be 3.0%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 18% 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. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 29
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥308 (up from JP¥228 in FY 2024). Revenue: JP¥100.9b (up 7.9% from FY 2024). Net income: JP¥7.65b (up 35% from FY 2024). Profit margin: 7.6% (up from 6.1% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 18%. 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 35% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 09
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥308 (up from JP¥228 in FY 2024). Revenue: JP¥100.9b (up 7.9% from FY 2024). Net income: JP¥7.65b (up 35% from FY 2024). Profit margin: 7.6% (up from 6.1% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 27% per year. Duyuru • May 08
Hochiki Corporation, Annual General Meeting, Jun 26, 2025 Hochiki Corporation, Annual General Meeting, Jun 26, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥2,089, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 94% over the past three years. Duyuru • Mar 25
Hochiki Corporation to Report Fiscal Year 2025 Results on May 08, 2025 Hochiki Corporation announced that they will report fiscal year 2025 results on May 08, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥43.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: JP¥105 (vs JP¥78.87 in 3Q 2024) Third quarter 2025 results: EPS: JP¥105 (up from JP¥78.87 in 3Q 2024). Revenue: JP¥26.7b (up 8.2% from 3Q 2024). Net income: JP¥2.61b (up 34% from 3Q 2024). Profit margin: 9.8% (up from 7.9% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat 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, earnings per share has increased by 19% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. High level of non-cash earnings (22% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: JP¥69.00 (vs JP¥57.49 in 2Q 2024) Second quarter 2025 results: EPS: JP¥69.00 (up from JP¥57.49 in 2Q 2024). Revenue: JP¥24.7b (up 5.5% from 2Q 2024). Net income: JP¥1.72b (up 20% from 2Q 2024). Profit margin: 7.0% (up from 6.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.4% 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, earnings per share has increased by 16% per year whereas the company’s share price has increased by 20% per year. New Risk • Nov 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 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 having no free cash flows. Share price has been volatile over the past 3 months (5.8% average weekly change). Upcoming Dividend • Sep 20
Upcoming dividend of JP¥29.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 11 December 2024. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥22.91 (vs JP¥3.50 in 1Q 2024) First quarter 2025 results: EPS: JP¥22.91 (up from JP¥3.50 in 1Q 2024). Revenue: JP¥20.9b (up 15% from 1Q 2024). Net income: JP¥568.0m (up JP¥481.0m from 1Q 2024). Profit margin: 2.7% (up from 0.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 10
Hochiki Corporation, Annual General Meeting, Jun 26, 2024 Hochiki Corporation, Annual General Meeting, Jun 26, 2024. Reported Earnings • May 09
Full year 2024 earnings released: EPS: JP¥228 (vs JP¥177 in FY 2023) Full year 2024 results: EPS: JP¥228 (up from JP¥177 in FY 2023). Revenue: JP¥93.5b (up 9.4% from FY 2023). Net income: JP¥5.66b (up 28% from FY 2023). Profit margin: 6.1% (up from 5.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥25.50 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 21% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Duyuru • Mar 08
Hochiki Corporation to Report Fiscal Year 2024 Results on May 08, 2024 Hochiki Corporation announced that they will report fiscal year 2024 results on May 08, 2024 Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥78.87 (vs JP¥45.31 in 3Q 2023) Third quarter 2024 results: EPS: JP¥78.87 (up from JP¥45.31 in 3Q 2023). Revenue: JP¥24.7b (up 14% from 3Q 2023). Net income: JP¥1.96b (up 72% from 3Q 2023). Profit margin: 7.9% (up from 5.2% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 07
Second quarter 2024 earnings released: EPS: JP¥57.49 (vs JP¥25.08 in 2Q 2023) Second quarter 2024 results: EPS: JP¥57.49 (up from JP¥25.08 in 2Q 2023). Revenue: JP¥23.4b (up 14% from 2Q 2023). Net income: JP¥1.43b (up 127% from 2Q 2023). Profit margin: 6.1% (up from 3.1% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥3.50 (vs JP¥8.51 in 1Q 2023) First quarter 2024 results: EPS: JP¥3.50 (down from JP¥8.51 in 1Q 2023). Revenue: JP¥18.2b (up 6.0% from 1Q 2023). Net income: JP¥87.0m (down 59% from 1Q 2023). Profit margin: 0.5% (down from 1.2% in 1Q 2023). The decrease in margin was driven by higher expenses. 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 16% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 13
Hochiki Corporation, Annual General Meeting, Jun 28, 2023 Hochiki Corporation, Annual General Meeting, Jun 28, 2023. Reported Earnings • May 12
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: JP¥177 (up from JP¥165 in FY 2022). Revenue: JP¥85.5b (up 5.2% from FY 2022). Net income: JP¥4.42b (up 7.2% from FY 2022). Profit margin: 5.2% (up from 5.1% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 1.7%. Revenue is forecast to stay flat during the next 2 years compared to a 6.6% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥49.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: JP¥45.31 (vs JP¥50.91 in 3Q 2022) Third quarter 2023 results: EPS: JP¥45.31 (down from JP¥50.91 in 3Q 2022). Revenue: JP¥21.7b (up 4.4% from 3Q 2022). Net income: JP¥1.14b (down 11% from 3Q 2022). Profit margin: 5.2% (down from 6.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.7% 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 4% per year whereas the company’s share price has remained flat. Price Target Changed • Nov 16
Price target increased to JP¥1,400 Up from JP¥1,300, the current price target is provided by 1 analyst. New target price is 6.1% above last closing price of JP¥1,320. Stock is up 1.6% over the past year. The company is forecast to post earnings per share of JP¥180 for next year compared to JP¥165 last year. Board Change • Nov 16
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. 6 non-independent directors. External Independent Director Masaaki Matsunaga was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Second quarter 2023 earnings released: EPS: JP¥25.08 (vs JP¥45.28 in 2Q 2022) Second quarter 2023 results: EPS: JP¥25.08 (down from JP¥45.28 in 2Q 2022). Revenue: JP¥20.5b (up 3.7% from 2Q 2022). Net income: JP¥628.0m (down 45% from 2Q 2022). Profit margin: 3.1% (down from 5.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Sep 27
Hochiki Corporation (TSE:6745) agreed to acquire DDL Co., Ltd. from Takahiko Demura and others. Hochiki Corporation (TSE:6745) agreed to acquire DDL Co., Ltd. from Takahiko Demura and others on September 26, 2022. For the period ended March 31, 2022, DDL Co., Ltd. reported Total assets of ¥300 million and total sales of ¥450 million. The transaction is expected to close on October 3, 2022. Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: JP¥8.51 (vs JP¥7.15 loss in 1Q 2022) First quarter 2023 results: EPS: JP¥8.51 (up from JP¥7.15 loss in 1Q 2022). Revenue: JP¥17.2b (up 7.0% from 1Q 2022). Net income: JP¥213.0m (up JP¥392.0m from 1Q 2022). Profit margin: 1.2% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 1.3%, compared to a 9.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Price Target Changed • Aug 05
Price target increased to JP¥1,400 Up from JP¥1,300, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of JP¥1,335. Stock is up 20% over the past year. The company is forecast to post earnings per share of JP¥180 for next year compared to JP¥165 last year. Duyuru • May 12
Hochiki Corporation, Annual General Meeting, Jun 28, 2022 Hochiki Corporation, Annual General Meeting, Jun 28, 2022. Reported Earnings • May 11
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥165 (up from JP¥153 in FY 2021). Revenue: JP¥81.3b (up 6.1% from FY 2021). Net income: JP¥4.12b (up 7.8% from FY 2021). Profit margin: 5.1% (in line with FY 2021). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 3.1%. Over the next year, revenue is forecast to stay flat 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 4% per year whereas the company’s share price has increased by 1% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥29.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.3%). Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥50.91 (up from JP¥41.93 in 3Q 2021). Revenue: JP¥20.8b (up 14% from 3Q 2021). Net income: JP¥1.28b (up 21% from 3Q 2021). Profit margin: 6.1% (up from 5.8% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Over the next year, revenue is expected to shrink by 1.3% compared to a 9.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • Nov 01
Second quarter 2022 earnings released: EPS JP¥45.28 (vs JP¥32.15 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥19.8b (up 7.6% from 2Q 2021). Net income: JP¥1.13b (up 41% from 2Q 2021). Profit margin: 5.7% (up from 4.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 03
First quarter 2022 earnings released: JP¥7.15 loss per share (vs JP¥10.26 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: JP¥16.1b (up 10% from 1Q 2021). Net loss: JP¥179.0m (loss narrowed 30% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • May 01
Full year 2021 earnings released: EPS JP¥153 (vs JP¥149 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥76.6b (down 4.9% from FY 2020). Net income: JP¥3.83b (up 2.4% from FY 2020). Profit margin: 5.0% (up from 4.6% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%). Is New 90 Day High Low • Mar 02
New 90-day high: JP¥1,344 The company is up 7.0% from its price of JP¥1,252 on 02 December 2020. The Japanese market is also up 7.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Electronic 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¥2,152 per share. Major Estimate Revision • Feb 20
Analysts update estimates The 2021 consensus earning per share (EPS) estimate increased from JP¥104 to JP¥122. Revenue estimate for the same period was approximately flat at JP¥75.5b. Net income is expected to shrink by 8.5% next year compared to 17% growth forecast for the Electronic industry in Japan . The consensus price target increased from JP¥1,300 to JP¥1,425. Share price is down by 1.5% to JP¥1,277 over the past week. Is New 90 Day High Low • Feb 08
New 90-day high: JP¥1,310 The company is up 1.0% from its price of JP¥1,298 on 10 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed 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¥1,711 per share. Major Estimate Revision • Feb 05
Analysts increase EPS estimates to JP¥104 The 2021 consensus revenue estimate increased from JP¥73.8b to JP¥74.8b. The earnings per share estimate also received an upgrade from JP¥81.63 to JP¥104 for the same period. Net income is expected to shrink by 20% next year compared to 15% growth forecast for the Electronic industry in Japan . The consensus price target increased from JP¥1,150 to JP¥1,300. Share price is up 3.4% to JP¥1,304 over the past week. Reported Earnings • Feb 02
Third quarter 2021 earnings released: EPS JP¥41.93 (vs JP¥19.29 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥18.2b (up 3.2% from 3Q 2020). Net income: JP¥1.05b (up 117% from 3Q 2020). Profit margin: 5.8% (up from 2.7% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 02
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) also surpassed analyst estimates by 7.6%. Over the next year, revenue is forecast to stay flat compared to a 7.1% growth forecast for the Electronic industry in Japan. Price Target Changed • Dec 01
Price target lowered to JP¥1,150 Down from JP¥1,475, the current price target is an average from 2 analysts. The new target price is 8.4% below the current share price of JP¥1,256. As of last close, the stock is down 25% over the past year.