Loading...

Kajima

DB:KAJ
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KAJ
DB
¥825B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Kajima Corporation, together with its subsidiaries, engages in the construction, real estate development and management, architectural design, civil engineering design, and other activities worldwide. The last earnings update was 8 days ago. More info.


Add to Portfolio Compare Print
KAJ Share Price and Events
7 Day Returns
-1.3%
DB:KAJ
0.8%
DE Construction
-0%
DE Market
1 Year Returns
-9%
DB:KAJ
-24.7%
DE Construction
-11.5%
DE Market
KAJ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kajima (KAJ) -1.3% 1% 2.7% -9% 8.2% 113.7%
DE Construction 0.8% -12.5% -13.5% -24.7% 2.9% 66.7%
DE Market -0% -3.3% 2.1% -11.5% 8.9% 8.1%
1 Year Return vs Industry and Market
  • KAJ outperformed the Construction industry which returned -24.7% over the past year.
  • KAJ outperformed the Market in Germany which returned -11.5% over the past year.
Price Volatility
KAJ
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Kajima 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 Kajima 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 Kajima.

DB:KAJ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
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:KAJ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Construction Unlevered Beta Simply Wall St/ S&P Global 0.98
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.983 (1 + (1- 30.86%) (36.21%))
1.154
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.15
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.154 * 5.96%)
7.1%

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

The calculations below outline how an intrinsic value for Kajima 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:KAJ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 7.1%)
2019 69,688.67 Analyst x3 65,065.77
2020 91,944.25 Analyst x4 80,150.36
2021 96,105.25 Analyst x4 78,220.12
2022 83,600.00 Analyst x1 63,528.42
2023 75,507.25 Est @ -9.68% 53,572.37
2024 70,442.35 Est @ -6.71% 46,663.42
2025 67,182.93 Est @ -4.63% 41,552.01
2026 65,052.86 Est @ -3.17% 37,565.57
2027 63,653.58 Est @ -2.15% 34,319.18
2028 62,738.69 Est @ -1.44% 31,582.02
Present value of next 10 years cash flows ¥532,219.23
DB:KAJ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥62,738.69 × (1 + 0.23%) ÷ (7.1% – 0.23%)
¥914,383.71
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥914,383.71 ÷ (1 + 7.1%)10
¥460,291.49
DB:KAJ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥532,219.23 + ¥460,291.49
¥992,510.72
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥992,510.72 / 519.85
¥1909.21
DB:KAJ Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:KAJ represents 0.00803x of TSE:1812
(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
= ¥ 1,909.21 x 0.00803
€15.33
Value per share (EUR) From above. €15.33
Current discount Discount to share price of €12.74
= -1 x (€12.74 - €15.33) / €15.33
16.9%

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

Current Discount
Amount off the current price Kajima is available for.
Intrinsic value
17%
Share price is €12.74 vs Future cash flow value of €15.33
Current Discount Checks
For Kajima to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Kajima's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Kajima's share price is below the future cash flow value, but not 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 Kajima's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kajima's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:KAJ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in JPY ¥211.67
TSE:1812 Share Price ** TSE (2019-05-22) in JPY ¥1587
Europe Construction Industry PE Ratio Median Figure of 97 Publicly-Listed Construction Companies 10.68x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 20.26x

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

** Primary Listing of Kajima.

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

= TSE:1812 Share Price ÷ EPS (both in JPY)

= 1587 ÷ 211.67

7.5x

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

  • Kajima is good value based on earnings compared to the Europe Construction industry average.
  • Kajima is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Kajima's expected growth come at a high price?
Raw Data
DB:KAJ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
-2.3%per year
Europe Construction Industry PEG Ratio Median Figure of 46 Publicly-Listed Construction Companies 1.16x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.5x ÷ -2.3%

-3.28x

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

  • Kajima 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 Kajima's assets?
Raw Data
DB:KAJ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in JPY ¥1,451.66
TSE:1812 Share Price * TSE (2019-05-22) in JPY ¥1587
Europe Construction Industry PB Ratio Median Figure of 132 Publicly-Listed Construction Companies 1.12x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.78x
DB:KAJ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:1812 Share Price ÷ Book Value per Share (both in JPY)

= 1587 ÷ 1,451.66

1.09x

* Primary Listing of Kajima.

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

  • Kajima is good value based on assets compared to the Europe Construction industry average.
X
Value checks
We assess Kajima'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 Construction 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 Construction industry average (and greater than 0)? (1 check)
  5. Kajima has a total score of 3/6, 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 Kajima expected to perform in the next 1 to 3 years based on estimates from 7 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
-2.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kajima expected to grow at an attractive rate?
  • Kajima'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
  • Kajima's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Kajima's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:KAJ Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:KAJ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts -2.3%
DB:KAJ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 0.9%
Europe Construction Industry Earnings Growth Rate Market Cap Weighted Average 13.1%
Europe Construction Industry Revenue Growth Rate Market Cap Weighted Average 2.8%
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:KAJ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:KAJ Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 2,065,200 111,100 1
2022-03-31 2,020,700 116,600 98,300 4
2021-03-31 2,030,811 124,855 103,951 7
2020-03-31 2,031,400 120,194 106,432 5
DB:KAJ Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-03-31 1,974,269 30,390 109,839
2018-12-31 1,904,367 111,740
2018-09-30 1,905,661 91,476 116,930
2018-06-30 1,846,782 120,269
2018-03-31 1,830,625 120,479 126,778
2017-12-31 1,915,980 130,357
2017-09-30 1,831,319 212,354 118,317
2017-06-30 1,831,983 118,334
2017-03-31 1,821,805 187,546 104,857
2016-12-31 1,754,337 95,108
2016-09-30 1,772,270 108,156 100,307
2016-06-30 1,772,361 82,230

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kajima's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Kajima's revenue is expected to grow by 0.9% 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:KAJ 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 7 Analyst Estimates (S&P Global) See Below

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

DB:KAJ Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31
2022-03-31 182.43 193.66 166.70 3.00
2021-03-31 200.32 212.00 184.00 7.00
2020-03-31 205.09 213.90 186.90 7.00
DB:KAJ Past Financials Data
Date (Data in JPY Millions) EPS *
2019-03-31 211.67
2018-12-31 215.32
2018-09-30 225.32
2018-06-30 231.75
2018-03-31 244.29
2017-12-31 251.18
2017-09-30 227.98
2017-06-30 228.00
2017-03-31 202.02
2016-12-31 183.22
2016-09-30 193.23
2016-06-30 158.40

*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.
  • Kajima is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Kajima'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Kajima 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 Kajima 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 Kajima's growth in the last year to its industry (Construction).
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.
  • Kajima has delivered over 20% year on year earnings growth in the past 5 years.
  • Kajima's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Kajima's 1-year earnings growth is negative, it can't be compared to the Europe Construction industry average.
Earnings and Revenue History
Kajima'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 Kajima Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KAJ 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 1,974,269.00 109,839.00 105,426.00
2018-12-31 1,904,367.00 111,740.00 107,733.00
2018-09-30 1,905,661.00 116,930.00 100,867.00
2018-06-30 1,846,782.00 120,269.00 103,241.00
2018-03-31 1,830,625.00 126,778.00 100,550.00
2017-12-31 1,915,980.00 130,357.00 98,789.00
2017-09-30 1,831,319.00 118,317.00 95,567.00
2017-06-30 1,831,983.00 118,334.00 92,938.00
2017-03-31 1,821,805.00 104,857.00 91,944.00
2016-12-31 1,754,337.00 95,108.00 90,453.00
2016-09-30 1,772,270.00 100,307.00 89,776.00
2016-06-30 1,772,361.00 82,230.00 89,366.00
2016-03-31 1,742,700.00 72,323.00 88,193.00
2015-12-31 1,744,783.00 40,369.00 86,227.00
2015-09-30 1,728,518.00 30,913.00 86,264.00
2015-06-30 1,706,827.00 21,320.00 84,529.00
2015-03-31 1,693,658.00 15,139.00 84,053.00
2014-12-31 1,654,618.00 30,321.00 82,014.00
2014-09-30 1,580,362.00 19,302.00 82,795.00
2014-06-30 1,548,204.00 21,485.00 84,092.00
2014-03-31 1,521,191.00 20,752.00 84,979.00
2013-12-31 1,495,873.00 20,483.00 87,789.00
2013-09-30 1,489,841.00 22,961.00 86,276.00
2013-06-30 1,474,973.00 23,803.00 86,168.00
2013-03-31 1,485,019.00 23,429.00 86,306.00
2012-12-31 1,469,904.00 17,478.00 85,170.00
2012-09-30 1,483,907.00 6,859.00 84,818.00
2012-06-30 1,496,965.00 6,906.00 84,946.00

*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.
  • Kajima has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Kajima used its assets more efficiently than the Europe Construction industry average last year based on Return on Assets.
  • Kajima has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kajima'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 Construction 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.
Kajima has a total score of 3/6, 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 Kajima'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 Kajima's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kajima is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kajima's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kajima'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 4.4x 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 Kajima Company Filings, last reported 1 month ago.

DB:KAJ Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 756,924.00 298,702.00 335,463.00
2018-12-31 717,462.00 268,965.00 250,797.00
2018-09-30 719,711.00 275,854.00 385,090.00
2018-06-30 682,498.00 311,589.00 479,176.00
2018-03-31 669,794.00 344,831.00 394,737.00
2017-12-31 643,123.00 308,162.00 254,237.00
2017-09-30 608,356.00 286,158.00 368,904.00
2017-06-30 580,520.00 298,284.00 430,201.00
2017-03-31 552,550.00 372,926.00 374,205.00
2016-12-31 508,555.00 329,395.00 203,516.00
2016-09-30 477,907.00 307,495.00 224,228.00
2016-06-30 464,236.00 298,897.00 240,481.00
2016-03-31 474,050.00 378,526.00 241,954.00
2015-12-31 464,087.00 357,460.00 190,639.00
2015-09-30 440,523.00 380,306.00 229,406.00
2015-06-30 442,580.00 343,027.00 236,170.00
2015-03-31 436,951.00 385,096.00 252,363.00
2014-12-31 412,998.00 412,520.00 191,344.00
2014-09-30 379,380.00 380,390.00 201,250.00
2014-06-30 376,201.00 351,242.00 244,618.00
2014-03-31 364,127.00 444,708.00 269,052.00
2013-12-31 367,268.00 554,207.00 177,158.00
2013-09-30 355,325.00 486,190.00 165,079.00
2013-06-30 336,146.00 464,399.00 200,072.00
2013-03-31 318,125.00 480,142.00 202,260.00
2012-12-31 278,062.00 521,289.00 158,285.00
2012-09-30 262,267.00 521,472.00 135,845.00
2012-06-30 257,315.00 483,994.00 183,909.00
  • Kajima's level of debt (39.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (121.8% vs 39.5% today).
  • Debt is not well covered by operating cash flow (10.2%, less than 20% of total debt).
  • Kajima earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Kajima'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. Kajima has a total score of 5/6, 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 Kajima'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
3.15%
Current annual income from Kajima dividends. Estimated to be 3.23% next year.
If you bought €2,000 of Kajima shares you are expected to receive €63 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?
  • Kajima's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Kajima's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
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:KAJ 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 7 Analyst Estimates (S&P Global) See Below
Europe Construction Industry Average Dividend Yield Market Cap Weighted Average of 73 Stocks 3.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:KAJ Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-03-31
2022-03-31 53.00 2.00
2021-03-31 51.71 7.00
2020-03-31 50.00 6.00
DB:KAJ Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-05-15 50.000 3.164
2018-11-14 48.000 3.071
2018-11-13 48.000 3.237
2018-08-07 48.000 3.053
2018-06-27 48.000 2.826
2018-05-15 48.000 2.658
2017-06-30 40.000 1.901
2017-05-12 40.000 2.274
2016-11-08 28.000 1.829
2016-06-29 24.000 1.682
2016-05-13 24.000 1.698
2016-02-10 12.000 0.877
2016-02-09 12.000 0.894
2015-11-11 12.000 0.869
2015-11-10 12.000 0.868
2015-06-26 12.000 0.928
2015-05-12 12.000 1.065
2015-02-12 10.000 0.907
2015-02-10 10.000 1.023
2014-11-12 10.000 1.059
2014-11-11 10.000 1.056
2014-06-30 10.000 1.018
2014-05-13 10.000 1.194
2014-02-13 10.000 1.353
2014-02-12 10.000 1.414
2013-11-13 10.000 1.316
2013-11-12 10.000 1.315
2013-06-28 10.000 1.308
2013-05-14 10.000 1.593
2012-08-07 10.000 2.012
2012-06-29 10.000 2.228
2012-05-15 10.000 2.418
2012-02-08 12.000 2.484
2012-02-07 12.000 2.322
2011-11-11 12.000 2.467
2011-11-10 12.000 2.367
2011-08-09 12.000 2.437
2011-06-30 12.000 2.536
2011-05-13 12.000 2.598
2011-02-09 12.000 2.635
2011-02-08 12.000 2.675
2010-11-11 12.000 2.746
2010-06-29 12.000 2.978
2010-05-13 12.000 2.828
2010-02-10 12.000 2.716
2009-11-12 12.000 3.172
2009-08-05 12.000 2.494

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 increased over the past 10 years.
Current Payout to shareholders
What portion of Kajima's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.2x 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 Kajima'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 Kajima afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kajima has a total score of 3/6, 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 Kajima'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
Yoshikazu Oshimi
AGE 69
TENURE AS CEO 3.9 years
CEO Bio

Mr. Yoshikazu Oshimi has been Executive President of Kajima Corporation since June 25, 2015. Mr. Oshimi served as Senior Managing Executive Officer and Manager of Kansai Branch at Kajima Corporation. Mr. Oshimi served as General Manager of Building Construction Management Division and Senior Executive Officer at Kajima Corporation. Mr. Oshimi served as Executive Officer and Managing Executive Officer at Kajima Corporation. He serves as a Representative Director of Kajima Corporation since June 2015.

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

Average tenure and age of the Kajima management team in years:

9.1
Average Tenure
69.5
Average Age
  • The average tenure for the Kajima management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Mitsuyoshi Nakamura

TITLE
Chairman of the Board & Executive Officer
AGE
75

Yoshikazu Oshimi

TITLE
Executive President & Representative Director
AGE
69
TENURE
3.9 yrs

Yutaka Takeda

TITLE
Senior Executive Officer

Takashi Hinago

TITLE
Executive VP
AGE
73
TENURE
11.1 yrs

Hiroshi Ishikawa

TITLE
Executive VP & Director
AGE
59
TENURE
3.2 yrs

Naoki Atsumi

TITLE
Executive VP & Representative Director
AGE
69
TENURE
13.9 yrs

Teruaki Yamaguchi

TITLE
Executive VP & GM of Real Estate Development Division

Tamiharu Tashiro

TITLE
Executive VP & Representative Director
AGE
70
TENURE
9.1 yrs

Masaru Ozaki

TITLE
Executive VP & GM of Architectural Design Division

Masao Oka

TITLE
Executive Vice President
Board of Directors Tenure

Average tenure and age of the Kajima board of directors in years:

5.9
Average Tenure
69
Average Age
  • The tenure for the Kajima board of directors is about average.
Board of Directors

Mitsuyoshi Nakamura

TITLE
Chairman of the Board & Executive Officer
AGE
75
TENURE
3.9 yrs

Yoshikazu Oshimi

TITLE
Executive President & Representative Director
AGE
69
TENURE
3.9 yrs

Takashi Hinago

TITLE
Executive VP
AGE
73
TENURE
6.9 yrs

Hiroshi Ishikawa

TITLE
Executive VP & Director
AGE
59
TENURE
18.9 yrs

Naoki Atsumi

TITLE
Executive VP & Representative Director
AGE
69
TENURE
16.9 yrs

Tamiharu Tashiro

TITLE
Executive VP & Representative Director
AGE
70
TENURE
8.9 yrs

Masayasu Kayano

TITLE
Executive VP
AGE
67
TENURE
4.9 yrs

Hiroyoshi Koizumi

TITLE
Executive VP
AGE
69
TENURE
3.9 yrs

Ken Uchida

TITLE
Managing Executive Officer
TENURE
1.9 yrs

Shoichi Kajima

TITLE
Senior Advisor & Director
AGE
88
TENURE
66.1 yrs
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 Kajima'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. Kajima 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

Kajima Corporation, together with its subsidiaries, engages in the construction, real estate development and management, architectural design, civil engineering design, and other activities worldwide. It also provides various services, such as design and consulting, procurement and construction, book publishing, insurance, and sales services. The company also engages in the hotel and leisure business. Kajima Corporation was founded in 1840 and is headquartered in Tokyo, Japan.

Details
Name: Kajima Corporation
KAJ
Exchange: DB
Founded: 1840
¥6,704,288,539
519,853,844
Website: http://www.kajima.co.jp
Address: Kajima Corporation
3-1, Motoakasaka 1-chome,
Minato-ku,
Tokyo,
107-8388,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 1812 Common Stock The Tokyo Stock Exchange JP JPY 31. Jan 1975
DB KAJ Common Stock Deutsche Boerse AG DE EUR 31. Jan 1975
OTCPK KAJM.Y UNSPONSORED ADR Pink Sheets LLC US USD 31. Jan 1980
Number of employees
Current staff
Staff numbers
17,730
Kajima employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 00:11
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/05/15
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.