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Kaneka

DB:KKA
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KKA
DB
¥249B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Kaneka Corporation manufactures and sells chemicals, functional plastics, expandable plastics and products, foodstuffs products, life science products, electronic products, and synthetic fibers in Japan and internationally. The last earnings update was 40 days ago. More info.


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KKA Share Price and Events
7 Day Returns
0%
DB:KKA
-0.7%
DE Chemicals
-2.5%
DE Market
1 Year Returns
3.7%
DB:KKA
-27.1%
DE Chemicals
-19.6%
DE Market
KKA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kaneka (KKA) 0% 0% -0.6% 3.7% -16.1% 70.3%
DE Chemicals -0.7% -4.2% -21.1% -27.1% -2% -6.9%
DE Market -2.5% -4.8% -14.2% -19.6% -7% 0%
1 Year Return vs Industry and Market
  • KKA outperformed the Chemicals industry which returned -27.1% over the past year.
  • KKA outperformed the Market in Germany which returned -19.6% over the past year.
Price Volatility
KKA
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Kaneka 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 Kaneka 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 Kaneka.

DB:KKA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.5%

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:KKA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 9.5%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.751 (1 + (1- 30.86%) (48.62%))
1.003
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (1.003 * 9.46%)
10.03%

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

The calculations below outline how an intrinsic value for Kaneka is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:KKA DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (JPY, Millions) -3,866.50 9,250.00 7,800.00 19,700.00 22,700.00
Source Analyst x2 Analyst x2 Analyst x1 Analyst x1 Analyst x1
Present Value
Discounted (@ 10.03%)
-3,514.00 7,640.27 5,855.24 13,440.02 14,074.82
Present value of next 5 years cash flows ¥37,496.36
DB:KKA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= ¥22,700.00 × (1 + 0.54%) ÷ (10.03% – 0.54%)
¥240,511.25
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= ¥240,511.25 ÷ (1 + 10.03%)5
¥149,125.71
DB:KKA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= ¥37,496.36 + ¥149,125.71
¥186,622.07
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥186,622.07 / 65.59
¥29.2
DB:KKA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:KKA represents 0.01026x of TSE:4118
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.01026x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 2,845.21 x 0.01026
€29.20
Value per share (EUR) From above. €29.20
Current discount Discount to share price of €39.00
= -1 x (€39.00 - €29.20) / €29.20
-33.6%

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

  • The current share price of Kaneka is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Kaneka's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kaneka's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:KKA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in JPY ¥345.45
TSE:4118 Share Price ** TSE (2018-09-25) in JPY ¥3800
Germany Chemicals Industry PE Ratio Median Figure of 17 Publicly-Listed Chemicals Companies 16.04x
Germany Market PE Ratio Median Figure of 418 Publicly-Listed Companies 16.41x

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

** Primary Listing of Kaneka.

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

= TSE:4118 Share Price ÷ EPS (both in JPY)

= 3800 ÷ 345.45

11x

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

  • Kaneka is good value based on earnings compared to the DE Chemicals industry average.
  • Kaneka is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Kaneka's expected growth come at a high price?
Raw Data
DB:KKA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
9.2%per year
Germany Chemicals Industry PEG Ratio Median Figure of 14 Publicly-Listed Chemicals Companies 2.4x
Germany Market PEG Ratio Median Figure of 279 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 11x ÷ 9.2%

1.19x

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

  • Kaneka is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Kaneka's assets?
Raw Data
DB:KKA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in JPY ¥5,162.47
TSE:4118 Share Price * TSE (2018-09-25) in JPY ¥3800
Germany Chemicals Industry PB Ratio Median Figure of 20 Publicly-Listed Chemicals Companies 1.68x
Germany Market PB Ratio Median Figure of 568 Publicly-Listed Companies 1.69x
DB:KKA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:4118 Share Price ÷ Book Value per Share (both in JPY)

= 3800 ÷ 5,162.47

0.74x

* Primary Listing of Kaneka.

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

  • Kaneka is good value based on assets compared to the DE Chemicals industry average.
X
Value checks
We assess Kaneka'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 Chemicals 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 Chemicals industry average (and greater than 0)? (1 check)
  5. Kaneka 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 Kaneka expected to perform in the next 1 to 3 years based on estimates from 5 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
9.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kaneka expected to grow at an attractive rate?
  • Kaneka's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Kaneka's earnings growth is positive but not above the Germany market average.
  • Kaneka's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:KKA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:KKA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 9.2%
DB:KKA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 4.7%
Germany Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 9.7%
Germany Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 10.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.3%

*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:KKA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:KKA Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 764,500 52,700 32,100 1
2022-03-31 728,300 49,700 29,000 1
2021-03-31 683,820 56,818 28,220 5
2020-03-31 656,060 52,227 24,940 5
2019-03-31 628,740 50,587 22,340 5
DB:KKA Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-09-30 609,937 47,567 22,642
2018-06-30 604,111 23,095
2018-03-31 596,142 49,750 21,571
2017-12-31 586,071 45,562 23,267
2017-09-30 570,298 43,492 20,956
2017-06-30 556,466 40,258 20,645
2017-03-31 548,222 48,119 20,484
2016-12-31 546,105 50,852 17,536
2016-09-30 545,566 54,300 20,219
2016-06-30 551,911 58,861 20,435
2016-03-31 555,227 59,704 20,985
2015-12-31 555,388 58,444 24,389

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kaneka's earnings are expected to grow by 9.2% yearly, however this is not considered high growth (20% yearly).
  • Kaneka's revenue is expected to grow by 4.7% 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:KKA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Kaneka Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KKA Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31
2022-03-31
2021-03-31 432.90 450.90 402.50 5.00
2020-03-31 381.56 389.20 366.00 5.00
2019-03-31 341.07 351.00 332.80 5.00
DB:KKA Past Financials Data
Date (Data in JPY Millions) EPS *
2018-09-30 345.45
2018-06-30 352.25
2018-03-31 328.45
2017-12-31 353.09
2017-09-30 316.96
2017-06-30 311.41
2017-03-31 308.59
2016-12-31 264.23
2016-09-30 304.45
2016-06-30 307.37
2016-03-31 314.88
2015-12-31 364.62

*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.
  • Kaneka is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Kaneka'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.
Kaneka 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.

Past Performance

  How has Kaneka 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 Kaneka's growth in the last year to its industry (Chemicals).
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.
  • Kaneka's year on year earnings growth rate has been positive over the past 5 years.
  • Kaneka's 1-year earnings growth is less than its 5-year average (8% vs 11.1%)
  • Kaneka's earnings growth has not exceeded the DE Chemicals industry average in the past year (8% vs 18.4%).
Earnings and Revenue History
Kaneka'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 Kaneka Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KKA Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 609,937.00 22,642.00 101,408.00 28,039.00
2018-06-30 604,111.00 23,095.00 99,898.00 28,039.00
2018-03-31 596,142.00 21,571.00 99,011.00 28,039.00
2017-12-31 586,071.00 23,267.00 98,690.00 28,513.00
2017-09-30 570,298.00 20,956.00 97,356.00 28,513.00
2017-06-30 556,466.00 20,645.00 95,880.00 28,513.00
2017-03-31 548,222.00 20,484.00 96,314.00 28,513.00
2016-12-31 546,105.00 17,536.00 98,565.00 26,767.00
2016-09-30 545,566.00 20,219.00 96,387.00 26,767.00
2016-06-30 551,911.00 20,435.00 94,896.00 26,767.00
2016-03-31 555,227.00 20,985.00 91,967.00 26,767.00
2015-12-31 555,388.00 24,389.00 92,804.00 23,319.00
2015-09-30 558,664.00 22,504.00 91,569.00 23,319.00
2015-06-30 555,622.00 20,203.00 89,144.00 23,319.00
2015-03-31 552,189.00 18,033.00 87,318.00 23,319.00
2014-12-31 547,754.00 11,561.00 88,060.00 21,095.00
2014-09-30 540,982.00 12,020.00 86,712.00 21,095.00
2014-06-30 533,911.00 12,725.00 85,247.00 21,095.00
2014-03-31 524,785.00 13,650.00 83,417.00 21,095.00
2013-12-31 514,236.00 14,837.00 80,889.00 21,384.00
2013-09-30 499,873.00 12,859.00 78,586.00 21,384.00
2013-06-30 485,598.00 11,397.00 76,888.00 21,384.00
2013-03-31 476,462.00 9,325.00 75,290.00 21,384.00
2012-12-31 470,644.00 9,019.00 74,150.00 19,958.00
2012-09-30 468,201.00 6,094.00 72,542.00 19,958.00
2012-06-30 467,991.00 5,023.00 71,833.00 19,958.00
2012-03-31 469,289.00 5,402.00 71,596.00 19,958.00
2011-12-31 466,200.00 4,197.00 86,475.00 5,141.00

*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.
  • Kaneka has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Kaneka used its assets less efficiently than the DE Chemicals industry average last year based on Return on Assets.
  • Kaneka has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kaneka'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 Chemicals 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.
Kaneka has a total score of 2/6, 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 Kaneka'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 Kaneka's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kaneka is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kaneka's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kaneka'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 2.6x 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 Kaneka Company Filings, last reported 2 months ago.

DB:KKA Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 359,304.00 121,177.00 47,240.00
2018-06-30 351,022.00 117,829.00 47,427.00
2018-03-31 346,597.00 115,500.00 47,757.00
2017-12-31 344,204.00 114,071.00 40,026.00
2017-09-30 336,299.00 114,642.00 39,935.00
2017-06-30 327,429.00 111,766.00 34,984.00
2017-03-31 321,549.00 112,630.00 41,226.00
2016-12-31 316,996.00 114,717.00 41,929.00
2016-09-30 305,291.00 109,816.00 39,455.00
2016-06-30 303,122.00 111,396.00 42,788.00
2016-03-31 308,720.00 116,468.00 43,557.00
2015-12-31 321,439.00 119,077.00 41,197.00
2015-09-30 312,519.00 115,044.00 35,587.00
2015-06-30 315,218.00 114,080.00 31,279.00
2015-03-31 309,225.00 112,910.00 28,180.00
2014-12-31 297,868.00 112,445.00 25,358.00
2014-09-30 289,149.00 111,218.00 29,100.00
2014-06-30 282,870.00 101,041.00 32,611.00
2014-03-31 285,132.00 103,055.00 34,152.00
2013-12-31 289,175.00 89,486.00 27,762.00
2013-09-30 280,874.00 84,785.00 35,375.00
2013-06-30 276,078.00 90,646.00 33,370.00
2013-03-31 270,447.00 88,668.00 32,148.00
2012-12-31 260,665.00 83,701.00 23,079.00
2012-09-30 253,706.00 77,920.00 23,780.00
2012-06-30 253,099.00 76,147.00 25,322.00
2012-03-31 257,460.00 76,212.00 27,631.00
2011-12-31 250,243.00 72,393.00 25,191.00
  • Kaneka's level of debt (33.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (30.2% vs 33.7% today).
  • Debt is well covered by operating cash flow (39.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 208.7x coverage).
X
Financial health checks
We assess Kaneka'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. Kaneka 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 Kaneka'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
2.37%
Current annual income from Kaneka dividends. Estimated to be 2.63% next year.
If you bought €2,000 of Kaneka shares you are expected to receive €47 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?
  • Kaneka's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.75%).
  • Kaneka's dividend is below the markets top 25% of dividend payers in Germany (4.21%).
Upcoming dividend payment

Purchase Kaneka on or before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:KKA 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 5 Analyst Estimates (S&P Global) See Below
Germany Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 329 Stocks 3.3%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.2%

Industry and Market average data is calculated daily.

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

DB:KKA Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 100.00 1.00
2022-03-31 100.00 1.00
2021-03-31 109.00 5.00
2020-03-31 98.00 5.00
2019-03-31 93.00 5.00
DB:KKA Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2018-11-13 90.000 2.160
2018-11-08 90.000 1.992
2018-06-28 90.000 1.809
2018-05-11 90.000 1.646
2018-02-13 90.000 1.702
2018-02-08 90.000 1.780
2017-11-13 90.000 1.794
2017-11-09 90.000 1.868
2017-06-29 90.000 2.045
2017-05-12 90.000 2.117
2016-06-29 90.000 2.110
2016-05-12 90.000 2.240
2016-02-10 100.000 2.188
2016-02-08 100.000 2.064
2015-11-12 80.000 1.377
2015-11-10 80.000 1.468
2015-06-26 80.000 1.705
2015-05-14 80.000 1.776
2015-02-12 80.000 1.927
2015-02-09 80.000 2.163
2014-11-13 80.000 2.445
2014-11-11 80.000 2.599
2014-06-27 80.000 2.631
2014-05-13 80.000 2.566
2014-02-12 80.000 2.551
2014-02-10 80.000 2.468
2013-11-12 80.000 2.448
2013-11-11 80.000 2.562
2013-06-27 80.000 2.479
2013-05-10 80.000 2.528
2013-02-13 80.000 2.977
2013-02-08 80.000 3.193
2012-11-13 80.000 3.681
2012-11-08 80.000 4.176
2012-06-28 80.000 4.024
2012-05-11 80.000 3.672
2012-02-13 80.000 3.334
2012-02-08 80.000 3.624
2011-11-11 80.000 3.844
2011-10-28 80.000 3.811
2011-07-28 80.000 3.585
2011-06-29 80.000 2.991
2011-04-28 80.000 2.981
2011-02-10 80.000 2.792
2011-02-08 80.000 2.727
2010-11-11 80.000 2.921
2010-10-28 80.000 3.215
2010-04-28 80.000 3.001
2010-02-12 80.000 2.795
2010-02-08 80.000 2.900
2009-11-12 80.000 2.681
2009-10-29 80.000 2.611
2009-04-28 80.000 2.466
2009-02-12 80.000 3.283
2009-02-09 80.000 3.385
2008-12-24 80.000 3.156

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 Kaneka's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x 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 Kaneka's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Kaneka afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kaneka 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 Kaneka'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
Mamoru Kadokura
CEO Bio

Mr. Mamoru Kadokura serves as the President of Kaneka Corporation. Mr. Kadokura served as a Managing Executive Officer of Kaneka Corporation and served as its Executive Officer. Mr. Kadokura serves as a Representative Director of Kaneka Corporation.

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

Average tenure of the Kaneka management team in years:

1.1
Average Tenure
  • The average tenure for the Kaneka management team is less than 2 years, this suggests a new team.
Management Team

Mamoru Kadokura

TITLE
President & Representative Director

Shinobu Ishihara

TITLE
Senior Managing Exec. Officer

Minoru Tanaka

TITLE
Executive VP & Representative Director
TENURE
2.5 yrs

Shinichiro Kametaka

TITLE
Senior Managing Executive Officer
TENURE
1.5 yrs

Shinji Mizusawa

TITLE
Executive Officer
TENURE
0.7 yrs

Akira Iwazawa

TITLE
Managing Exec. Officer

Atsushi Kawakatsu

TITLE
Managing Exec. Officer

Kazuo Ochiai

TITLE
Executive Officer
TENURE
0.7 yrs

Minetoshi Marufuji

TITLE
Executive Officer
TENURE
0.7 yrs

Kazuhiko Fujii

TITLE
Managing Exec. Officer & Director
TENURE
2.5 yrs
Board of Directors Tenure

Average tenure of the Kaneka board of directors in years:

2.5
Average Tenure
  • The average tenure for the Kaneka board of directors is less than 3 years, this suggests a new board.
Board of Directors

Kimikazu Sugawara

TITLE
Chairman

Mamoru Kadokura

TITLE
President & Representative Director
TENURE
4.5 yrs

Shinobu Ishihara

TITLE
Senior Managing Exec. Officer

Minoru Tanaka

TITLE
Executive VP & Representative Director

Shinichiro Kametaka

TITLE
Senior Managing Executive Officer

Akira Iwazawa

TITLE
Managing Exec. Officer

Kazuhiko Fujii

TITLE
Managing Exec. Officer & Director
TENURE
2.5 yrs

Yasuaki Nuri

TITLE
Managing Executive Officer & Director
TENURE
1.5 yrs

Hidesuke Amachi

TITLE
Managing Exec. Officer

Takeo Inokuchi

TITLE
Independent Director
AGE
76
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 Kaneka'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. Kaneka 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

External News
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Simply Wall St News

Company Info

Map
Description

Kaneka Corporation manufactures and sells chemicals, functional plastics, expandable plastics and products, foodstuffs products, life science products, electronic products, and synthetic fibers in Japan and internationally. The company offers chemical products, polyvinyl chloride (PVC), crosslinked PVC, vinyl chloride-vinyl acetate copolymers, paste PVC, acryl grafted-vinyl chloride copolymer, chlorinated PVC, and PVC compounds. It also provides impact modifiers, heat-resistance modifiers, and processing aid resins for PVC; silyl-terminated polyethers; acrylic silicon polymers; liquid polymers for elastic adhesives; terminally reactive liquid acrylic polymers; telechelic polyacrylates; thermal conductivity engineering plastics compounds; engineering resins for injection molding; weather-resistant acrylic films; isobutylene-based thermoplastic elastomers; and toughness-enhancing masterbatches for epoxy resins. In addition, the company offers polypropylene foams, expandable polystyrene, polystyrene foam boards, and Kanelite Foam products, as well as wooden house construction systems; and polyimide films, high thermal conductive graphite sheets, bonded magnets, multi-layer insulation products, and transparent films for optical use. Further, it provides thin-film silicon photovoltaic modules; performance fibers comprising hair accessory products, pile eco fur and toy, and flame-retardant materials; catheters for intravascular treatment, testing equipment, blood purification systems, ophthalmic medical devices, regenerative and cell medicine, and regenerative medicines; and intermediates, chromatography resins, functional foodstuffs, contracted manufacturing and services, and drug discovery search for biopharmaceuticals. Additionally, the company offers margarine, shortening, cacao butter substitute, whipping cream, bakery yeast, and spices, as well as cream for kneading and other uses. Kaneka Corporation was founded in 1949 and is headquartered in Osaka, Japan.

Details
Name: Kaneka Corporation
KKA
Exchange: DB
Founded: 1949
¥1,965,189,993
65,591,719
Website: http://www.kaneka.co.jp
Address: Kaneka Corporation
2-3-18, Nakanoshima,
Kita-ku,
Osaka,
530-8288,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 4118 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
OTCPK KANK.F Common Stock Pink Sheets LLC US USD 06. Jan 1992
DB KKA Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
Number of employees
Current staff
Staff numbers
10,234
Kaneka employees.
Industry
Commodity Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/23 22:12
End of day share price update: 2018/09/25 00:00
Last estimates confirmation: 2018/12/18
Last earnings filing: 2018/11/13
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/03/31


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.