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Japan Steel Works

DB:J9R
Snowflake Description

Undervalued with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
J9R
DB
¥122B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

The Japan Steel Works, Ltd. produces and sells steel and machinery products in Japan, China, and internationally. The last earnings update was 6 days ago. More info.


Add to Portfolio Compare Print
  • Japan Steel Works has significant price volatility in the past 3 months.
J9R Share Price and Events
7 Day Returns
-12.4%
DB:J9R
-0.3%
DE Machinery
-0.2%
DE Market
1 Year Returns
-50.2%
DB:J9R
-24%
DE Machinery
-10.3%
DE Market
J9R Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Japan Steel Works (J9R) -12.4% -20.7% -18.3% -50.2% -27.2% -1.9%
DE Machinery -0.3% -7.2% -1.4% -24% -10.2% 10.9%
DE Market -0.2% -2.4% 4.2% -10.3% 11.2% 10.8%
1 Year Return vs Industry and Market
  • J9R underperformed the Machinery industry which returned -24% over the past year.
  • J9R underperformed the Market in Germany which returned -10.3% over the past year.
Price Volatility
J9R
Industry
5yr Volatility vs Market

Value

 Is Japan Steel Works undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Japan Steel Works to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Japan Steel Works.

DB:J9R Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:J9R
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.052 (1 + (1- 30.86%) (43.37%))
1.246
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.25
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.246 * 5.96%)
7.65%

Discounted Cash Flow Calculation for DB:J9R using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Japan Steel Works is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:J9R DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 7.65%)
2019 5,442.00 Analyst x2 5,055.13
2020 19,766.00 Analyst x1 17,055.59
2021 10,175.00 Analyst x2 8,155.61
2022 13,735.00 Analyst x1 10,226.44
2023 16,609.33 Est @ 20.93% 11,487.41
2024 19,053.79 Est @ 14.72% 12,241.23
2025 21,029.77 Est @ 10.37% 12,550.24
2026 22,570.78 Est @ 7.33% 12,512.33
2027 23,743.98 Est @ 5.2% 12,226.98
2028 24,624.14 Est @ 3.71% 11,778.79
Present value of next 10 years cash flows ¥113,289.74
DB:J9R DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥24,624.14 × (1 + 0.23%) ÷ (7.65% – 0.23%)
¥332,395.41
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥332,395.41 ÷ (1 + 7.65%)10
¥158,999.06
DB:J9R Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥113,289.74 + ¥158,999.06
¥272,288.80
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥272,288.80 / 73.51
¥3704.31
DB:J9R Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:J9R represents 0.00803x of TSE:5631
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00803x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 3,704.31 x 0.00803
€29.76
Value per share (EUR) From above. €29.76
Current discount Discount to share price of €13.30
= -1 x (€13.30 - €29.76) / €29.76
55.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Japan Steel Works is available for.
Intrinsic value
>50%
Share price is €13.3 vs Future cash flow value of €29.76
Current Discount Checks
For Japan Steel Works to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Japan Steel Works's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Japan Steel Works's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Japan Steel Works's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Japan Steel Works's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:J9R PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in JPY ¥271.68
TSE:5631 Share Price ** TSE (2019-05-17) in JPY ¥1656
Germany Machinery Industry PE Ratio Median Figure of 38 Publicly-Listed Machinery Companies 16.49x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 20.17x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Japan Steel Works.

DB:J9R PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:5631 Share Price ÷ EPS (both in JPY)

= 1656 ÷ 271.68

6.1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Japan Steel Works is good value based on earnings compared to the DE Machinery industry average.
  • Japan Steel Works is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Japan Steel Works's expected growth come at a high price?
Raw Data
DB:J9R PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.1x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-2.1%per year
Germany Machinery Industry PEG Ratio Median Figure of 29 Publicly-Listed Machinery Companies 1.51x
Germany Market PEG Ratio Median Figure of 273 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

DB:J9R PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.1x ÷ -2.1%

-2.96x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Japan Steel Works earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Japan Steel Works's assets?
Raw Data
DB:J9R PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in JPY ¥1,746.89
TSE:5631 Share Price * TSE (2019-05-17) in JPY ¥1656
Germany Machinery Industry PB Ratio Median Figure of 46 Publicly-Listed Machinery Companies 1.74x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.77x
DB:J9R PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:5631 Share Price ÷ Book Value per Share (both in JPY)

= 1656 ÷ 1,746.89

0.95x

* Primary Listing of Japan Steel Works.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Japan Steel Works is good value based on assets compared to the DE Machinery industry average.
X
Value checks
We assess Japan Steel Works's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. Japan Steel Works has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Japan Steel Works expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-2.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Japan Steel Works expected to grow at an attractive rate?
  • Japan Steel Works's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Japan Steel Works's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Japan Steel Works's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:J9R Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:J9R Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -2.1%
DB:J9R Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.8%
Germany Machinery Industry Earnings Growth Rate Market Cap Weighted Average 10.9%
Germany Machinery Industry Revenue Growth Rate Market Cap Weighted Average 5.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:J9R Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:J9R Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 250,000 20,735 20,055 1
2021-03-31 245,167 19,175 17,813 3
2020-03-31 228,833 26,766 15,570 3
DB:J9R Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-03-31 220,153 1,092 19,966
2018-12-31 219,131 14,853
2018-09-30 217,537 19,950 15,063
2018-06-30 222,833 14,370
2018-03-31 212,957 26,712 10,712
2017-12-31 216,161 296
2017-09-30 210,531 17,968 -2,486
2017-06-30 207,840 -4,231
2017-03-31 212,469 12,023 -4,968
2016-12-31 221,672 -15,139
2016-09-30 235,673 20,270 -14,655
2016-06-30 235,007 -14,456

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Japan Steel Works's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Japan Steel Works's revenue is expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:J9R Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Japan Steel Works Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:J9R Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 269.90 269.90 269.90 1.00
2021-03-31 241.47 243.50 237.40 3.00
2020-03-31 209.60 209.60 209.60 1.00
DB:J9R Past Financials Data
Date (Data in JPY Millions) EPS *
2019-03-31 271.68
2018-12-31 202.11
2018-09-30 204.97
2018-06-30 195.54
2018-03-31 145.76
2017-12-31 4.03
2017-09-30 -33.83
2017-06-30 -57.57
2017-03-31 -67.60
2016-12-31 -206.27
2016-09-30 -200.00
2016-06-30 -197.60

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Japan Steel Works is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Japan Steel Works's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Japan Steel Works has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Japan Steel Works performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Japan Steel Works's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Japan Steel Works has delivered over 20% year on year earnings growth in the past 5 years.
  • Japan Steel Works's 1-year earnings growth exceeds its 5-year average (86.4% vs 34.9%)
  • Japan Steel Works's earnings growth has exceeded the DE Machinery industry average in the past year (86.4% vs -6.4%).
Earnings and Revenue History
Japan Steel Works's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Japan Steel Works Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:J9R Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 220,153.00 19,966.00 29,240.00
2018-12-31 219,131.00 14,853.00 25,756.00 3,502.00
2018-09-30 217,537.00 15,063.00 25,225.00 3,502.00
2018-06-30 222,833.00 14,370.00 25,009.00 3,502.00
2018-03-31 212,957.00 10,712.00 24,680.00 3,502.00
2017-12-31 216,161.00 296.00 24,791.00 3,430.00
2017-09-30 210,531.00 -2,486.00 25,382.00 3,430.00
2017-06-30 207,840.00 -4,231.00 25,888.00 3,430.00
2017-03-31 212,469.00 -4,968.00 26,002.00 3,430.00
2016-12-31 221,672.00 -15,139.00 26,659.00 3,297.00
2016-09-30 235,673.00 -14,655.00 27,024.00 3,297.00
2016-06-30 235,007.00 -14,456.00 26,765.00 3,297.00
2016-03-31 223,301.00 -16,600.00 26,383.00 3,297.00
2015-12-31 208,182.00 6,114.00 25,637.00 3,171.00
2015-09-30 195,158.00 5,187.00 24,825.00 3,171.00
2015-06-30 192,945.00 -5,484.00 25,088.00 3,171.00
2015-03-31 194,674.00 -5,327.00 24,798.00 3,171.00
2014-12-31 199,513.00 -4,582.00 24,609.00 3,165.00
2014-09-30 198,420.00 -3,601.00 24,414.00 3,165.00
2014-06-30 186,838.00 4,781.00 23,280.00 3,165.00
2014-03-31 188,719.00 5,527.00 23,552.00 3,165.00
2013-12-31 191,062.00 3,464.00 23,460.00 3,363.00
2013-09-30 197,617.00 7,240.00 23,875.00 3,363.00
2013-06-30 207,843.00 6,863.00 24,132.00 3,363.00
2013-03-31 220,653.00 8,281.00 24,436.00 3,363.00
2012-12-31 220,459.00 12,544.00 24,300.00 3,898.00
2012-09-30 217,316.00 7,603.00 23,816.00 3,898.00
2012-06-30 223,169.00 9,632.00 24,184.00 3,898.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Japan Steel Works has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Japan Steel Works used its assets more efficiently than the DE Machinery industry average last year based on Return on Assets.
  • Japan Steel Works has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Japan Steel Works's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Japan Steel Works has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Japan Steel Works's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Japan Steel Works's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Japan Steel Works is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Japan Steel Works's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Japan Steel Works's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Japan Steel Works Company Filings, last reported 1 month ago.

DB:J9R Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 129,826.00 52,787.00 74,304.00
2018-12-31 127,000.00 51,708.00 80,399.00
2018-09-30 128,194.00 51,118.00 86,734.00
2018-06-30 122,065.00 51,332.00 85,688.00
2018-03-31 118,599.00 52,645.00 79,032.00
2017-12-31 122,120.00 50,454.00 74,987.00
2017-09-30 116,397.00 49,933.00 71,595.00
2017-06-30 110,757.00 47,253.00 63,355.00
2017-03-31 107,586.00 52,452.00 59,801.00
2016-12-31 117,811.00 47,663.00 56,052.00
2016-09-30 114,482.00 47,283.00 60,314.00
2016-06-30 111,125.00 49,675.00 58,108.00
2016-03-31 111,340.00 51,339.00 62,018.00
2015-12-31 138,328.00 49,649.00 54,311.00
2015-09-30 134,457.00 59,671.00 67,472.00
2015-06-30 136,282.00 59,139.00 70,849.00
2015-03-31 138,233.00 41,344.00 49,176.00
2014-12-31 135,767.00 40,626.00 40,845.00
2014-09-30 132,047.00 38,009.00 36,994.00
2014-06-30 140,131.00 37,995.00 41,451.00
2014-03-31 139,268.00 42,091.00 42,329.00
2013-12-31 141,333.00 39,665.00 46,439.00
2013-09-30 138,971.00 39,957.00 46,570.00
2013-06-30 135,458.00 40,262.00 53,414.00
2013-03-31 134,367.00 53,241.00 51,005.00
2012-12-31 132,263.00 50,458.00 48,597.00
2012-09-30 127,777.00 51,056.00 51,348.00
2012-06-30 126,420.00 47,653.00 49,979.00
  • Japan Steel Works's level of debt (40.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (30.2% vs 40.7% today).
  • Debt is not well covered by operating cash flow (2.1%, less than 20% of total debt).
  • Japan Steel Works earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Japan Steel Works's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Japan Steel Works has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Japan Steel Works's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.32%
Current annual income from Japan Steel Works dividends. Estimated to be 3.75% next year.
If you bought €2,000 of Japan Steel Works shares you are expected to receive €66 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Japan Steel Works's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • Japan Steel Works's dividend is below the markets top 25% of dividend payers in Germany (3.81%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:J9R Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Germany Machinery Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 2.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:J9R Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 77.50 1.00
2021-03-31 64.17 3.00
2020-03-31 55.00 3.00
DB:J9R Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-05-13 55.000 3.206
2019-02-14 50.000 2.460
2019-02-12 50.000 2.434
2018-11-13 50.000 2.541
2018-11-05 50.000 1.973
2018-08-06 50.000 1.877
2018-06-28 50.000 1.807
2018-05-14 50.000 1.588
2018-02-14 35.000 1.030
2018-02-13 35.000 1.120
2017-11-14 35.000 0.998
2017-11-06 35.000 1.090
2017-06-29 25.000 1.115
2017-05-15 25.000 1.485
2017-02-14 25.000 1.345
2017-02-06 25.000 1.214
2016-11-07 25.000 1.198
2016-06-24 25.000 1.076
2016-05-16 25.000 1.079
2015-08-03 25.000 1.237
2015-06-24 25.000 1.039
2015-05-11 25.000 0.911
2015-02-13 20.000 0.781
2015-02-02 20.000 0.818
2014-11-14 20.000 0.946
2014-11-04 20.000 0.964
2014-06-25 25.000 1.180
2014-05-07 25.000 1.234
2014-02-14 25.000 1.071
2014-02-03 25.000 1.027
2013-11-14 25.000 0.912
2013-11-05 25.000 0.946
2013-07-29 25.000 0.915
2013-06-25 50.000 1.720
2013-05-13 25.000 0.830
2013-02-14 50.000 1.944
2013-02-04 50.000 2.041
2012-11-14 50.000 1.978
2012-10-29 50.000 2.139
2012-07-30 50.000 2.280
2012-06-26 50.000 2.360
2012-05-07 50.000 2.376
2012-02-13 50.000 1.796
2012-02-07 50.000 1.572
2011-11-14 50.000 1.891
2011-11-07 50.000 2.057
2011-06-24 60.000 2.371
2011-05-12 60.000 2.124
2011-02-14 60.000 1.737
2011-02-07 60.000 1.393
2010-11-15 60.000 1.405
2010-11-08 60.000 1.397
2010-09-06 60.000 1.509
2010-06-25 60.000 1.501
2010-05-10 60.000 1.383
2010-02-15 60.000 1.157
2010-02-08 60.000 1.163
2009-11-16 60.000 1.046

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Japan Steel Works's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.9x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Japan Steel Works's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Japan Steel Works afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Japan Steel Works has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Japan Steel Works's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Naotaka Miyauchi
TENURE AS CEO 2.1 years
CEO Bio

Naotaka Miyauchi has been the President of The Japan Steel Works, Ltd. since April 4, 2017. Naotaka Miyauchi served as Managing Executive Officer of The Japan Steel Works, Ltd. until April 4, 2017 and served as its Executive Officer. Naotaka Miyauchi has been Director of The Japan Steel Works, Ltd. since June 28, 2016.

CEO Compensation
  • Insufficient data for Naotaka to compare compensation growth.
  • Insufficient data for Naotaka to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure of the Japan Steel Works management team in years:

2.1
Average Tenure
  • The tenure for the Japan Steel Works management team is about average.
Management Team

Naotaka Miyauchi

TITLE
President & Representative Director
TENURE
2.1 yrs

Yutaka Higashiizumi

TITLE
Executive VP & Representative Director
TENURE
2.1 yrs

Takashi Shibata

TITLE
Managing Executive Officer & Director

Masao Oshita

TITLE
Managing Executive Officer & Director
TENURE
2.1 yrs

Toyohiko Kagawa

TITLE
Managing Executive Officer
TENURE
2.1 yrs

Junichiro Deguchi

TITLE
Executive Officer & Director

Toshio Matsuo

TITLE
Managing Executive Officer & Director
TENURE
3.1 yrs

Kenji Kikukawa

TITLE
Executive Officer
TENURE
3.1 yrs

Takashi Iwamoto

TITLE
Executive Officer & Director
TENURE
3.1 yrs

Yoshitaka Sato

TITLE
Executive Officer
TENURE
2.1 yrs
Board of Directors Tenure

Average tenure of the Japan Steel Works board of directors in years:

1.9
Average Tenure
  • The average tenure for the Japan Steel Works board of directors is less than 3 years, this suggests a new board.
Board of Directors

Naotaka Miyauchi

TITLE
President & Representative Director
TENURE
2.9 yrs

Yutaka Higashiizumi

TITLE
Executive VP & Representative Director

Takashi Shibata

TITLE
Managing Executive Officer & Director
TENURE
2.9 yrs

Masao Oshita

TITLE
Managing Executive Officer & Director
TENURE
1.9 yrs

Junichiro Deguchi

TITLE
Executive Officer & Director
TENURE
1.3 yrs

Toshio Matsuo

TITLE
Managing Executive Officer & Director
TENURE
1.9 yrs

Takashi Iwamoto

TITLE
Executive Officer & Director
TENURE
1.3 yrs

Nobuo Mochida

TITLE
Outside Director
AGE
71
TENURE
2.9 yrs

Sadao Degawa

TITLE
Outside Director
TENURE
1.3 yrs

Yoshitomo Tanaka

TITLE
Audit & Supervisory Board Member
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Japan Steel Works's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Japan Steel Works has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

The Japan Steel Works, Ltd. produces and sells steel and machinery products in Japan, China, and internationally. The company's Steel and Energy Products segment offers monobloks rotor shafts for power generators; shell flanges for nuclear reactor pressure vessels; turbine castings for thermal power plants; pressure vessels for oil refining; clad steel plates and pipes; alloy and stainless steel, and Ni-based alloy products; forged steel rolls for steel mills; forged and cast steel products, steel plates, and pressure vessels for use in hydrogen storage, chemical and petrochemical industries, and other industrial machineries; wind turbine systems; and pressure vessels maintenance and inspection services. Its Industrial Machinery Products segment provides plastics and elastomer extrusion machinery, including polyolefin pelletizers, compounding and devolatilizing extruders, dewatering extruders, and auxiliary equipment; plastics processing machinery, such as injection molding machines, film and sheet machines, blow molding machines, and spinning extruders; industrial machinery comprising reciprocating compressors, rolling stock parts, bolt tensioners, and magnesium thixomolding machines; and magnesium injection molding machines, waste treatment equipment, and manufacturing equipment for electronic products, as well as defense equipment, including firing systems and missile launchers. This segment also provides maintenance concierge, training, retrofitting, and remote management/system maintenance services; and operates technical centers for various plastics processing technology to assist customer's research and development. In addition, this segment develops laser annealing and other laser application equipment; and chemical vapor deposition and plasma application equipment. Its Real Estate and Other Businesses segment engages in the regional development. The company was founded in 1907 and is headquartered in Tokyo, Japan.

Details
Name: The Japan Steel Works, Ltd.
J9R
Exchange: DB
Founded: 1907
¥992,054,550
73,506,026
Website: http://www.jsw.co.jp
Address: The Japan Steel Works, Ltd.
Gate City Ohsaki-West Tower,
11-1, Osaki 1-chome,
Tokyo,
141-0032,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 5631 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
DB J9R Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK JPSW.Y ADR NEW Pink Sheets LLC US USD 19. Nov 1992
Number of employees
Current staff
Staff numbers
5,156
Japan Steel Works employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/19 21:20
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/14
Last earnings filing: 2019/05/13
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.