Financials Daishinku Corp.

Equities

6962

JP3484400001

Electronic Equipment & Parts

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-30 am EDT			5-day change	1st Jan Change
849 ^JPY	+1.92%		+12.30%	-1.28%

2023	Daishinku Corp. Reports Earnings Results for the Full Year Ended March 31, 2023	CI
2020	Daishinku Corp. Announces Consolidated and Non-Consolidated Earnings Results for the Year Ended March 31, 2020	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,598	11,987	19,984	39,027	23,467	27,404	-	-
Enterprise Value (EV) ¹	15,314	21,154	31,804	48,351	35,747	37,710	38,705	39,380
P/E ratio	-18.1 x	43.4 x	16.3 x	10.1 x	7.31 x	17.1 x	18.3 x	14.7 x
Yield	1.41%	1.35%	1.41%	1.51%	3.85%	3.3%	3.3%	3.3%
Capitalization / Revenue	0.3 x	0.4 x	0.6 x	0.94 x	0.61 x	0.7 x	0.66 x	0.63 x
EV / Revenue	0.54 x	0.71 x	0.96 x	1.17 x	0.93 x	0.97 x	0.93 x	0.9 x
EV / EBITDA	5.38 x	7.4 x	6.35 x	5.56 x	4.36 x	6.39 x	5.38 x	4.95 x
EV / FCF	-25.9 x	-11.1 x	-11.9 x	13.5 x	-53.8 x	34.3 x	35.2 x	197 x
FCF Yield	-3.87%	-9%	-8.43%	7.42%	-1.86%	2.92%	2.84%	0.51%
Price to Book	0.34 x	0.48 x	0.72 x	1.18 x	0.65 x	0.72 x	0.7 x	0.67 x
Nbr of stocks (in thousands)	32,294	32,289	32,285	32,280	32,279	32,278	-	-
Reference price ²	266.2	371.2	619.0	1,209	727.0	849.0	849.0	849.0
Announcement Date	5/13/19	5/13/20	5/13/21	5/13/22	5/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	28,457	29,881	33,189	41,306	38,430	38,900	41,500	43,800
EBITDA ¹	2,849	2,859	5,010	8,690	8,203	5,900	7,200	7,950
EBIT ¹	47	277	2,089	5,194	4,210	1,890	2,667	3,167
Operating Margin	0.17%	0.93%	6.29%	12.57%	10.95%	4.86%	6.43%	7.23%
Earnings before Tax (EBT) ¹	238	888	2,344	6,066	5,127	3,400	2,600	3,000
Net income ¹	-475	276	1,223	3,848	3,208	1,600	1,500	1,867
Net margin	-1.67%	0.92%	3.68%	9.32%	8.35%	4.11%	3.61%	4.26%
EPS ²	-14.74	8.558	37.90	119.2	99.41	49.59	46.49	57.85
Free Cash Flow ¹	-592.1	-1,904	-2,681	3,586	-665	1,100	1,100	200
FCF margin	-2.08%	-6.37%	-8.08%	8.68%	-1.73%	2.83%	2.65%	0.46%
FCF Conversion (EBITDA)	-	-	-	41.27%	-	18.64%	15.28%	2.52%
FCF Conversion (Net income)	-	-	-	93.19%	-	68.75%	73.33%	10.71%
Dividend per Share ²	3.750	5.000	8.750	18.25	28.00	28.00	28.00	28.00
Announcement Date	5/13/19	5/13/20	5/13/21	5/13/22	5/12/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2021 S1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2025 S1	2025 S2
Net sales	14,449	14,463	10,927	21,434	10,234	9,638	10,283	10,009	20,292	9,313	8,825	9,318	10,014	19,332	10,353	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-264	474	1,625	2,762	1,398	1,034	1,625	1,185	2,810	785	615	518	383	901	585	284	1,100	1,100
Operating Margin	-1.83%	3.28%	14.87%	12.89%	13.66%	10.73%	15.8%	11.84%	13.85%	8.43%	6.97%	5.56%	3.82%	4.66%	5.65%	-	-	-
Earnings before Tax (EBT)	-368	483	-	3,052	1,287	-	3,020	-	4,755	-336	-	1,013	-	2,889	-108	-	-	-
Net income	-615	105	1,033	1,773	740	1,335	2,015	971	2,986	-176	398	439	952	1,391	-234	-	-	-
Net margin	-4.26%	0.73%	9.45%	8.27%	7.23%	13.85%	19.6%	9.7%	14.72%	-1.89%	4.51%	4.71%	9.51%	7.2%	-2.26%	-	-	-
EPS	-19.05	3.272	-	54.94	22.91	-	62.43	-	92.51	-5.450	-	13.62	-	43.10	-7.240	-	-	-
Dividend per Share	1.250	2.500	-	6.250	-	-	-	-	14.00	-	-	-	-	14.00	-	-	-	-
Announcement Date	11/13/19	11/9/20	11/11/21	11/11/21	2/10/22	5/13/22	8/12/22	11/11/22	11/11/22	2/10/23	5/12/23	8/4/23	11/6/23	11/6/23	2/5/24	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	6,716	9,167	11,820	9,324	12,280	10,306	11,301	11,976
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.357 x	3.206 x	2.359 x	1.073 x	1.497 x	1.747 x	1.57 x	1.506 x
Free Cash Flow ¹	-592	-1,904	-2,681	3,586	-665	1,100	1,100	200
ROE (net income / shareholders' equity)	-1.8%	1.1%	4.6%	12.6%	9.3%	4.18%	4.28%	5.11%
ROA (Net income/ Total Assets)	-0.81%	0.57%	3.85%	5.13%	6.19%	1.9%	1.7%	2%
Assets ¹	58,758	48,712	31,775	74,967	51,814	84,211	88,235	93,333
Book Value Per Share ²	789.0	777.0	864.0	1,026	1,112	1,183	1,205	1,263
Cash Flow per Share	74.40	90.90	131.0	230.0	225.0	-	-	-
Capex ¹	3,017	4,222	4,927	7,276	6,230	6,000	6,000	5,000
Capex / Sales	10.6%	14.13%	14.85%	17.61%	16.21%	15.42%	14.46%	11.42%
Announcement Date	5/13/19	5/13/20	5/13/21	5/13/22	5/12/23	-	-	-

¹JPY in Million²JPY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Daishinku Corp.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

849 JPY

Average target price

975 JPY

Spread / Average Target

+14.84%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Electronic Component

	1st Jan change	Capi.
DAISHINKU CORP.	-1.28%	172M
AMPHENOL CORPORATION	+24.21%	73.35B
HON HAI PRECISION INDUSTRY CO., LTD.	+51.67%	67.42B
MURATA MANUFACTURING CO., LTD	-2.99%	34.57B
LUXSHARE PRECISION INDUSTRY CO., LTD.	-13.41%	29.58B
JABIL INC.	-5.73%	14.46B
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD.	-13.59%	9.86B
LENS TECHNOLOGY CO., LTD.	+8.64%	9.79B
SUZHOU TFC OPTICAL COMMUNICATION CO., LTD.	+78.12%	8.89B
EOPTOLINK TECHNOLOGY INC., LTD.	+77.01%	8.56B

Electronic Component