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Sanwa Technos Research Memo (7): Implement Dividends with a goal of over 4.0% DOE.
■As part of its measures to achieve a PB of over 1.0 at an early stage, Sanwa Technos <8137> has announced enhancements to its shareholder return policy. The dividend policy aims for a DOE of 4.0% from the fiscal year ending March 2025, with a commitment to continuous and stable dividends. Furthermore, it has been decided to implement a commemorative dividend of 10.0 yen for the 75th anniversary of its establishment in the fiscal year ending March 2025, and along with the ordinary dividends, a total of 120.0 yen (DOE 4.4%) will be distributed, which is an increase of 25.0 yen from the previous fiscal year.
Sanwa Technos Research Memo (5): Aiming to maintain a high level of ROE and achieve PB over 1.0 at an early stage (1)
■Sanwa Technos <8137>'s long-term vision and mid-term management plan 3. Although the company's ROE is 10.8% for the fiscal year ending March 2024, exceeding 10%, the stock price continues to be at a level where the PB is 0.75 times, below 1.0 times. The factors include insufficient understanding of the company's business strategy and growth strategy for sustainable growth among investors, and the stock liquidity is low with a Market Cap in the range of 30 billion yen.
Sanwa Technos Research Memo (4): Aiming to be the BEST Inc partner that transforms "wants" into "abilities" in manufacturing.
■ The long-term vision and medium-term management plan of Sanwa Technos (8137) 1. Long-term Vision The group under the corporate philosophy "Creating people, establishing companies, serving society," has utilized a Global network to provide customers with "the latest information," "solutions that capture needs," and "safe and secure services." In collaboration with partner companies, it has contributed to the promotion of industries and the realization of a sustainable society. In recent years, the changes in the global social environment have been remarkable, and the market environment also
Sanwa Technos Research Memo (3): The earnings forecast for the fiscal year ending in March 2025 remains unchanged, but there is potential for upside at each profit stage.
■The performance trend of Sanwa Technos <8137> 3. Performance outlook for the fiscal year ending March 2025: Consolidated performance for the fiscal year ending March 2025 is forecasted to be 155,070 million yen in revenue, a decrease of 6.7% compared to the previous period, operating profit of 3,080 million yen, a decrease of 50.4% from the previous period, recurring profit of 3,220 million yen, a decrease of 51.4% from the previous period, and net income attributable to shareholders of the parent company of 2,410 million yen, a decrease of 51.9% from the previous period. Although the interim performance exceeded the forecasted figures, the recovery of performance at overseas bases is slow, and exchange rates...
Sanwa Technos Research Memo (2): For the interim period ending in March 2025, there will be a decrease in sales and profits, but each stage's profits will exceed the Financial Estimates.
For the second quarter of the fiscal year ending in March 2025, the consolidated performance showed a revenue of 69,426 million yen, which is a 21.9% decrease compared to the same period last year. Operating profit decreased by 52.1% to 1,650 million yen, ordinary profit decreased by 54.6% to 1,681 million yen, and the net profit attributable to shareholders of the parent company decreased by 58.7% to 1,271 million yen. Despite these decreases in revenue and profit, each profit stage exceeded the forecasted figures.
Sanwa Technos Research Memo (1): The growth strategy of developing high-value-added new products and expanding overseas bases is steadily progressing.
■Summary Sanwa Technos <8137> is an independent trading company that deals with equipment, machinery, and Components related to industrial electronics and mechatronics. The company operates across three fields: electrical, electronic, and machinery, and has expanded its operations through two main features: 'Bidirectional Trade' (supplying production line equipment to client manufacturers and purchasing products produced there). The company operates 30 domestic locations and 39 Overseas locations (as of the end of November 2024). 1. 20
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