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T&D Holdings

BST:TZ6
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TZ6
BST
¥722B
Market Cap
  1. Home
  2. DE
  3. Insurance
Company description

T&D Holdings, Inc., through its subsidiaries, provides life insurance products and services primarily in Japan. The last earnings update was 23 days ago. More info.


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TZ6 Share Price and Events
7 Day Returns
1.7%
BST:TZ6
-0.3%
DE Insurance
-1.1%
DE Market
1 Year Returns
-
BST:TZ6
19%
DE Insurance
-8.5%
DE Market
TZ6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
T&D Holdings (TZ6) 1.7% 5.5% 0.8% - - -
DE Insurance -0.3% 1.8% 1.6% 19% 62.2% 59.5%
DE Market -1.1% -0.4% -4% -8.5% 8.1% 9.4%
1 Year Return vs Industry and Market
  • No trading data on TZ6.
  • No trading data on TZ6.
Price Volatility
TZ6
Industry
5yr Volatility vs Market
Related Companies

TZ6 Value

 Is T&D Holdings 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 T&D Holdings 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 T&D Holdings.

BST:TZ6 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 8 analysts.
= Stable Book Value * Return on Equity
= ¥2,031.71 * 5.6%
¥114.45
Book Value of Equity per Share Weighted future Book Value estimates from 6 analysts. ¥2,031.71
Discount Rate (Cost of Equity) See below 5.4%
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 BST:TZ6
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.685 (1 + (1- 30.86%) (23.37%))
0.863
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.863 * 5.96%)
5.37%

Discounted Cash Flow Calculation for BST:TZ6 using Excess Returns Model Model

The calculations below outline how an intrinsic value for T&D Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

BST:TZ6 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (5.6% – 5.37%) * ¥2,031.71)
¥5.26
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ¥5.26 / (5.37% - 0.23%)
¥102.17
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ¥2,031.71 + ¥102.17
¥2133.88
BST:TZ6 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:TZ6 represents 0.00817x of TSE:8795
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00817x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 2,133.88 x 0.00817
€17.42
Value per share (EUR) From above. €17.42
Current discount Discount to share price of €9.82
= -1 x (€9.82 - €17.42) / €17.42
43.7%

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

Current Discount
Amount off the current price T&D Holdings is available for.
Intrinsic value
44%
Share price is €9.82 vs Future cash flow value of €17.42
Current Discount Checks
For T&D Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • T&D Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • T&D Holdings'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 T&D Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are T&D Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:TZ6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in JPY ¥118.50
TSE:8795 Share Price ** TSE (2019-07-19) in JPY ¥1202
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 13.31x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.67x

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

** Primary Listing of T&D Holdings.

BST:TZ6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:8795 Share Price ÷ EPS (both in JPY)

= 1202 ÷ 118.50

10.14x

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

  • T&D Holdings is good value based on earnings compared to the DE Insurance industry average.
  • T&D Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does T&D Holdings's expected growth come at a high price?
Raw Data
BST:TZ6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
2.5%per year
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 3.08x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

BST:TZ6 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.14x ÷ 2.5%

4.11x

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

  • T&D Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on T&D Holdings's assets?
Raw Data
BST:TZ6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in JPY ¥1,886.07
TSE:8795 Share Price * TSE (2019-07-19) in JPY ¥1202
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.08x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.73x
BST:TZ6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:8795 Share Price ÷ Book Value per Share (both in JPY)

= 1202 ÷ 1,886.07

0.64x

* Primary Listing of T&D Holdings.

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

  • T&D Holdings is good value based on assets compared to the DE Insurance industry average.
X
Value checks
We assess T&D Holdings'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 Insurance 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 Insurance industry average (and greater than 0)? (1 check)
  5. T&D Holdings 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.

TZ6 Future Performance

 How is T&D Holdings expected to perform in the next 1 to 3 years based on estimates from 8 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
2.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is T&D Holdings expected to grow at an attractive rate?
  • T&D Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • T&D Holdings's earnings growth is positive but not above the Germany market average.
  • T&D Holdings's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
BST:TZ6 Future Growth Rates Data Sources
Data Point Source Value (per year)
BST:TZ6 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 2.5%
BST:TZ6 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts -2.1%
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*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
BST:TZ6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:TZ6 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 84,094
2023-03-31 78,135
2022-03-31 2,006,875 75,161 4
2021-03-31 1,987,995 72,014 4
2020-03-31 2,077,700 67,369 3
BST:TZ6 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-03-31 2,122,464 576,958 72,825
2018-12-31 2,075,323 80,736
2018-09-30 2,088,369 547,858 78,986
2018-06-30 2,002,030 77,623
2018-03-31 1,912,086 370,127 77,577
2017-12-31 1,954,199 67,471
2017-09-30 1,923,976 330,843 71,077
2017-06-30 1,927,572 69,685
2017-03-31 1,958,555 343,760 75,187
2016-12-31 1,947,492 76,411
2016-09-30 1,932,703 325,100 72,353
2016-06-30 1,939,309 76,078

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • T&D Holdings's earnings are expected to grow by 2.5% yearly, however this is not considered high growth (20% yearly).
  • T&D Holdings's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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
BST:TZ6 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from T&D Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:TZ6 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31 125.90 138.44 113.95 9.00
2021-03-31 118.30 136.49 96.25 11.00
2020-03-31 110.41 122.31 103.90 11.00
BST:TZ6 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-03-31 118.50
2018-12-31 130.82
2018-09-30 127.46
2018-06-30 124.77
2018-03-31 124.23
2017-12-31 107.51
2017-09-30 112.67
2017-06-30 109.89
2017-03-31 117.81
2016-12-31 119.07
2016-09-30 112.16
2016-06-30 117.17

*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.
  • T&D Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess T&D Holdings'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.
T&D Holdings has a total score of 1/6, 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.

TZ6 Past Performance

  How has T&D Holdings 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 T&D Holdings's growth in the last year to its industry (Insurance).
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.
  • T&D Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • T&D Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • T&D Holdings's 1-year earnings growth is negative, it can't be compared to the DE Insurance industry average.
Earnings and Revenue History
T&D Holdings'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 T&D Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:TZ6 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 2,122,464.00 72,825.00 201,599.00
2018-12-31 2,075,323.00 80,736.00 201,113.00
2018-09-30 2,088,369.00 78,986.00 201,035.00
2018-06-30 2,002,030.00 77,623.00 200,806.00
2018-03-31 1,912,086.00 77,577.00 202,366.00
2017-12-31 1,954,199.00 67,471.00 202,517.00
2017-09-30 1,923,976.00 71,077.00 201,178.00
2017-06-30 1,927,572.00 69,685.00 200,301.00
2017-03-31 1,958,555.00 75,187.00 197,600.00
2016-12-31 1,947,492.00 76,411.00 198,061.00
2016-09-30 1,932,703.00 72,353.00 198,901.00
2016-06-30 1,939,309.00 76,078.00 198,522.00
2016-03-31 2,009,587.00 72,547.00 198,999.00
2015-12-31 2,050,617.00 80,595.00 198,772.00
2015-09-30 2,202,412.00 89,914.00 198,687.00
2015-06-30 2,355,928.00 88,651.00 199,959.00
2015-03-31 2,384,958.00 94,215.00 199,435.00
2014-12-31 2,313,726.00 93,546.00 198,596.00
2014-09-30 2,228,991.00 90,938.00 197,976.00
2014-06-30 2,135,556.00 83,971.00 197,717.00
2014-03-31 2,033,934.00 78,982.00 197,655.00
2013-12-31 2,252,095.00 85,244.00 199,946.00
2013-09-30 2,266,451.00 83,886.00 201,285.00
2013-06-30 2,216,695.00 76,498.00 201,411.00
2013-03-31 2,398,838.00 63,733.00 203,781.00
2012-12-31 2,246,171.00 54,158.00 203,024.00
2012-09-30 2,316,863.00 18,639.00 204,978.00

*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.
  • T&D Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • T&D Holdings used its assets less efficiently than the DE Insurance industry average last year based on Return on Assets.
  • T&D Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess T&D Holdings'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 Insurance 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.
T&D Holdings has a total score of 0/6, 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.

TZ6 Health

 How is T&D Holdings'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 T&D Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • T&D Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • T&D Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of T&D Holdings'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 10.2x 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 T&D Holdings Company Filings, last reported 3 months ago.

BST:TZ6 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,159,586.00 168,679.00 824,241.00
2018-12-31 1,024,485.00 123,042.00 768,095.00
2018-09-30 1,177,448.00 123,050.00 654,035.00
2018-06-30 1,138,453.00 93,057.00 702,390.00
2018-03-31 1,153,035.00 168,137.00 776,510.00
2017-12-31 1,251,719.00 93,072.00 690,305.00
2017-09-30 1,190,502.00 56,080.00 664,887.00
2017-06-30 1,141,657.00 56,087.00 724,775.00
2017-03-31 1,096,771.00 117,697.00 862,425.00
2016-12-31 1,119,446.00 53,101.00 841,703.00
2016-09-30 1,144,419.00 53,109.00 909,736.00
2016-06-30 1,140,399.00 53,116.00 1,264,920.00
2016-03-31 1,214,060.00 118,176.00 1,024,692.00
2015-12-31 1,265,990.00 53,131.00 552,873.00
2015-09-30 1,219,641.00 53,139.00 358,697.00
2015-06-30 1,316,576.00 84,246.00 640,481.00
2015-03-31 1,344,949.00 101,599.00 908,784.00
2014-12-31 1,269,599.00 54,099.00 689,973.00
2014-09-30 1,140,558.00 68,099.00 405,723.00
2014-06-30 1,066,843.00 68,099.00 619,555.00
2014-03-31 1,020,323.00 151,599.00 841,801.00
2013-12-31 1,011,029.00 67,599.00 656,081.00
2013-09-30 958,712.00 67,099.00 434,694.00
2013-06-30 906,346.00 47,099.00 602,427.00
2013-03-31 919,744.00 132,809.00 414,470.00
2012-12-31 793,336.00 45,100.00 584,456.00
2012-09-30 663,834.00 45,100.00 343,071.00
  • T&D Holdings's level of debt (14.5%) 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 (14.8% vs 14.5% today).
  • Debt is well covered by operating cash flow (342%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 229.5x coverage).
X
Financial health checks
We assess T&D Holdings'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. T&D Holdings 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.

TZ6 Dividends

 What is T&D Holdings'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
3.66%
Current annual income from T&D Holdings dividends. Estimated to be 3.85% next year.
If you bought €2,000 of T&D Holdings shares you are expected to receive €73 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?
  • T&D Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.49%).
  • T&D Holdings's dividend is below the markets top 25% of dividend payers in Germany (3.92%).
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
BST:TZ6 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 8 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.2%
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 3.9%

Industry and Market average data is calculated daily.

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

BST:TZ6 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 52.00 1.00
2023-03-31 50.00 1.00
2022-03-31 47.75 8.00
2021-03-31 46.36 11.00
2020-03-31 44.18 11.00
BST:TZ6 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-06-26 44.000 3.688
2019-05-15 44.000 3.870
2019-02-14 40.000 3.237
2018-11-28 40.000 2.871
2018-11-14 40.000 2.369
2018-06-27 40.000 2.303
2018-05-15 40.000 2.247
2018-02-14 40.000 2.295
2017-11-28 35.000 1.801
2017-11-13 35.000 2.034
2017-06-28 35.000 2.146
2017-05-15 35.000 2.162
2017-02-14 35.000 2.067
2016-11-28 30.000 1.885
2016-11-11 30.000 2.111
2016-08-09 30.000 2.526
2016-06-28 30.000 3.146
2016-05-13 30.000 3.025
2016-02-15 30.000 2.756
2015-12-29 25.000 1.878
2015-05-20 25.000 1.470
2015-05-14 25.000 1.409
2014-06-26 25.000 1.750
2014-05-15 25.000 1.861
2013-06-26 22.500 1.762
2013-05-15 22.500 1.798
2012-08-10 22.500 2.334
2012-06-27 22.500 2.788
2012-05-15 22.500 2.872
2011-11-17 22.500 2.732
2011-05-19 22.500 2.700
2011-02-10 22.500 2.154
2010-11-18 22.500 2.145
2010-06-25 22.500 2.517
2010-05-19 22.500 2.194
2009-05-18 22.500 1.944
2009-02-12 22.500 1.747
2008-11-19 32.500 2.047

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 T&D Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x 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 T&D Holdings'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 T&D Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. T&D Holdings 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.

TZ6 Management

 What is the CEO of T&D Holdings'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
Hirohisa Uehara
AGE 57
TENURE AS CEO 1.3 years
CEO Bio

Mr. Hirohisa Uehara has been the President and Chief Executive Officer of T&D Holdings, Inc. since April 1, 2018. Mr. Uehara has operational experience within T&D Group including investment and sales. In addition, he has previously been in charge of Group Planning at the Company. Mr. Uehara joined Taiyo Mutual Life Insurance Company in April 1984 and served as its General Manager of Securities Investment Department Company July 2003 and General Manager of Investment Planning Department since January 2005. He served as a Part-time Director of T&D Asset Management Co., Ltd. since February 2005. Mr. Uehara served as a General Manager of Group Planning Department of T&D Holdings, Inc. since April 2007, Executive Vice President since April 2017 and Executive Officer since April 2011. He served as a Director of T&D Financial Life Insurance Company since April 2012. Mr. Uehara served as an Executive Officer and General Manager of Securities Investment Department of Taiyo Life Insurance Company since April 2014 and its Managing Executive Officer since April 2015 and Senior Managing Executive Officer since April 2016. He has been a Part-time Director of Taiyo Life Insurance Company since June 2014. Mr. Uehara has been a Representative Director at T&D Holdings, Inc. since June 2017. He is a Part-time Director of T&D Financial Life Insurance Company since June 2017 until June 21, 2018 and is a Director at Daiwa Motor Transportation Co., Ltd. He graduated from Gakushuin University, Faculty of Economics in March 1984.

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

Average tenure and age of the T&D Holdings management team in years:

2.3
Average Tenure
58.5
Average Age
  • The tenure for the T&D Holdings management team is about average.
Management Team

Hirohisa Uehara

TITLE
President
AGE
57
TENURE
1.3 yrs

Chikahiro Tsuboi

TITLE
Senior Managing Executive Officer
AGE
62
TENURE
2.3 yrs

Koichi Seike

TITLE
Senior Managing Executive Officer & Director
AGE
63
TENURE
3.3 yrs

Yoshihisa Tanaka

TITLE
Managing Executive Officer & Director
AGE
57
TENURE
0.3 yrs

Mutsurou Kitahara

TITLE
Senior Managing Executive Officer
AGE
60
TENURE
2.3 yrs

Mitsuhiro Nagata

TITLE
Senior Managing Executive Officer & Director
AGE
57
TENURE
1.3 yrs

Yasuro Tamura

TITLE
Managing Executive Officer & Director
AGE
57

Hiroshi Fujise

TITLE
President and Representative Director of T&D Asset Mgmt Co. Ltd.

Minoru Kudo

TITLE
Director
AGE
64
TENURE
4.3 yrs

Masanori Nishida

TITLE
President and Representative Director of Pet & Family Small-Amount Short-Term Insurance Company
Board of Directors Tenure

Average tenure and age of the T&D Holdings board of directors in years:

1.7
Average Tenure
57
Average Age
  • The average tenure for the T&D Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Tetsuhiro Kida

TITLE
Chairman of the Board
AGE
66
TENURE
1.3 yrs

Hirohisa Uehara

TITLE
President
AGE
57
TENURE
2.1 yrs

Koichi Seike

TITLE
Senior Managing Executive Officer & Director
AGE
63
TENURE
5.1 yrs

Yoshihisa Tanaka

TITLE
Managing Executive Officer & Director
AGE
57
TENURE
0.1 yrs

Mitsuhiro Nagata

TITLE
Senior Managing Executive Officer & Director
AGE
57
TENURE
1.1 yrs

Yasuro Tamura

TITLE
Managing Executive Officer & Director
AGE
57
TENURE
1.1 yrs

Hiroshi Fujise

TITLE
President and Representative Director of T&D Asset Mgmt Co. Ltd.

Minoru Kudo

TITLE
Director
AGE
64
TENURE
4.1 yrs

Masanori Nishida

TITLE
President and Representative Director of Pet & Family Small-Amount Short-Term Insurance Company

Kato Matsuyama

TITLE
Outside Director
AGE
52
TENURE
6.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess T&D Holdings'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. T&D Holdings 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.

TZ6 News

Simply Wall St News

TZ6 Company Info

Description

T&D Holdings, Inc., through its subsidiaries, provides life insurance products and services primarily in Japan. It offers comprehensive coverage, including death protection and medical/nursing care products through in-house sales representatives for household customers, such as women, middle-aged, and elderly people; term life insurance, disability insurance, etc. through in-house sales representatives and agents for small and medium enterprises; and single premium wealth-accumulation and level premium protection insurance products through financial institutions and insurance shop agents for independent insurance agent market, as well as compensation insurance for pet veterinary care expenses through pet shops, etc. to pets market. The company also provides investment products through sales companies, such as securities firms, etc.; and investment advisory services to domestic and international pension funds and institutional investors. In addition, it offers leasing and credit guarantee services; life insurance policy clerical services, including drafting, amendment, custody and distribution of documents, and delivery of securities; computer software and system services; and designing and developing information technology systems, software solutions, and business solutions for the insurance industry. The company was founded in 2004 and is headquartered in Tokyo, Japan.

Details
Name: T&D Holdings, Inc.
TZ6
Exchange: BST
Founded: 2004
¥5,971,974,668
600,563,378
Website: http://www.td-holdings.co.jp
Address: T&D Holdings, Inc.
2-7-1, Nihonbashi,
Chuo-ku,
Tokyo,
103-6031,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 8795 Common Stock The Tokyo Stock Exchange JP JPY 01. Apr 2004
DB TZ6 Common Stock Deutsche Boerse AG DE EUR 01. Apr 2004
BST TZ6 Common Stock Boerse-Stuttgart DE EUR 01. Apr 2004
OTCPK TDHO.Y UNSPONSORD ADR Pink Sheets LLC US USD 23. Oct 2008
Number of employees
Current staff
Staff numbers
19,489
T&D Holdings employees.
Industry
Life and Health Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 22:44
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/03
Last earnings filing: 2019/06/26
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.