DB:TYC1

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Taiyo Yuden Co., Ltd. develops, manufactures, and sells electronic components worldwide. More Details


Snowflake Analysis

Flawless balance sheet with limited growth.


Similar Companies

Share Price & News

How has Taiyo Yuden's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TYC1's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-0.6%

TYC1

-3.1%

DE Electronic

-7.3%

DE Market


1 Year Return

36.2%

TYC1

-8.1%

DE Electronic

-7.7%

DE Market

Return vs Industry: TYC1 exceeded the German Electronic industry which returned -8.1% over the past year.

Return vs Market: TYC1 exceeded the German Market which returned -6.6% over the past year.


Shareholder returns

TYC1IndustryMarket
7 Day-0.6%-3.1%-7.3%
30 Day21.5%-6.8%-7.7%
90 Day20.6%-6.1%-4.5%
1 Year37.6%36.2%-5.7%-8.1%-4.8%-7.7%
3 Year122.1%115.8%-11.6%-15.8%-9.2%-17.2%
5 Year142.3%127.8%75.0%62.3%11.4%-4.5%

Price Volatility Vs. Market

How volatile is Taiyo Yuden's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Taiyo Yuden undervalued compared to its fair value and its price relative to the market?

31.29x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TYC1 (€31.6) is trading above our estimate of fair value (€22)

Significantly Below Fair Value: TYC1 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TYC1 is good value based on its PE Ratio (31.3x) compared to the DE Electronic industry average (33x).

PE vs Market: TYC1 is poor value based on its PE Ratio (31.3x) compared to the German market (21.2x).


Price to Earnings Growth Ratio

PEG Ratio: TYC1 is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: TYC1 is overvalued based on its PB Ratio (2.3x) compared to the DE Electronic industry average (1.7x).


Next Steps

Future Growth

How is Taiyo Yuden forecast to perform in the next 1 to 3 years based on estimates from 18 analysts?

18.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TYC1's forecast earnings growth (18% per year) is above the savings rate (0.2%).

Earnings vs Market: TYC1's earnings (18% per year) are forecast to grow slower than the German market (25.7% per year).

High Growth Earnings: TYC1's earnings are forecast to grow, but not significantly.

Revenue vs Market: TYC1's revenue (7.4% per year) is forecast to grow faster than the German market (5.9% per year).

High Growth Revenue: TYC1's revenue (7.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TYC1's Return on Equity is forecast to be low in 3 years time (13.2%).


Next Steps

Past Performance

How has Taiyo Yuden performed over the past 5 years?

13.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TYC1 has a large one-off loss of ¥12.6B impacting its June 30 2020 financial results.

Growing Profit Margin: TYC1's current net profit margins (5.6%) are lower than last year (8.9%).


Past Earnings Growth Analysis

Earnings Trend: TYC1's earnings have grown by 13.7% per year over the past 5 years.

Accelerating Growth: TYC1's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TYC1 had negative earnings growth (-38.9%) over the past year, making it difficult to compare to the Electronic industry average (-42.2%).


Return on Equity

High ROE: TYC1's Return on Equity (7.2%) is considered low.


Next Steps

Financial Health

How is Taiyo Yuden's financial position?


Financial Position Analysis

Short Term Liabilities: TYC1's short term assets (¥196.0B) exceed its short term liabilities (¥81.5B).

Long Term Liabilities: TYC1's short term assets (¥196.0B) exceed its long term liabilities (¥58.1B).


Debt to Equity History and Analysis

Debt Level: TYC1's debt to equity ratio (30.6%) is considered satisfactory.

Reducing Debt: TYC1's debt to equity ratio has reduced from 36.3% to 30.6% over the past 5 years.

Debt Coverage: TYC1's debt is well covered by operating cash flow (80.4%).

Interest Coverage: TYC1 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Taiyo Yuden current dividend yield, its reliability and sustainability?

0.78%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TYC1's dividend (0.78%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.28%).

High Dividend: TYC1's dividend (0.78%) is low compared to the top 25% of dividend payers in the German market (3.89%).


Stability and Growth of Payments

Stable Dividend: TYC1's dividend payments have been volatile in the past 10 years.

Growing Dividend: TYC1's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (21.2%), TYC1's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Shoichi Tosaka (65 yo)

4.92yrs

Tenure

Mr. Shoichi Tosaka has been Chief Executive Officer and President at Taiyo Yuden Co., Ltd., since November 04, 2015. Mr. Tosaka joined Taiyo Yuden Co., Ltd. in 1979, and was mainly engaged in materials dev ...


Leadership Team

NamePositionTenureCompensationOwnership
Shoichi Tosaka
President4.92yrsno data0.011%
¥ 444.1k
Koshi Anai
General Manager of Accounting Departmentno datano datano data
Kazuya Umezawa
Director1.75yrsno data0.0018%
¥ 72.4k
Shinji Masuyama
Executive Vice President & Director7.33yrsno data0.0037%
¥ 147.9k
Hirokazu Chazono
Senior Operating Officer0.75yrno datano data
Osamu Takahashi
Executive Operating Officer & Director9.33yrsno data0.0047%
¥ 185.9k
Mitsuo Takagi
Senior Operating Officer1.75yrsno datano data
Katsuya Sase
Senior Executive Operating Officer & Director4.33yrsno data0.0036%
¥ 142.0k
Tomomitsu Fukuda
Senior Operating Officer1.75yrsno datano data
Susumu Higuchi
Senior Operating Officer1.75yrsno datano data
Toshimitsu Honda
Executive Operating Officerno datano datano data

1.8yrs

Average Tenure

63yo

Average Age

Experienced Management: TYC1's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Shoichi Tosaka
President4.92yrsno data0.011%
¥ 444.1k
Kazuya Umezawa
Director1.75yrsno data0.0018%
¥ 72.4k
Shinji Masuyama
Executive Vice President & Director7.33yrsno data0.0037%
¥ 147.9k
Osamu Takahashi
Executive Operating Officer & Director9.33yrsno data0.0047%
¥ 185.9k
Katsuya Sase
Senior Executive Operating Officer & Director4.33yrsno data0.0036%
¥ 142.0k
Hajime Yoshitake
Outside Independent Audit & Supervisory Board Member4.33yrsno datano data
Toshio Mishuku
Audit & Supervisory Board Member1.75yrsno data0.034%
¥ 1.3m
Kazuyuki Oshima
Audit & Supervisory Board Member0.75yrno data0.0046%
¥ 182.7k
Masashi Hiraiwa
Outside Independent Director4.33yrsno datano data
Seiichi Koike
Outside Independent Director2.33yrsno datano data
Emiko Hamada
Outside Independent Director1.33yrsno data0.00080%
¥ 31.6k
Tomomi Fujita
Outside1.33yrsno datano data

3.3yrs

Average Tenure

63yo

Average Age

Experienced Board: TYC1's board of directors are considered experienced (3.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Taiyo Yuden Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Taiyo Yuden Co., Ltd.
  • Ticker: TYC1
  • Exchange: DB
  • Founded: 1950
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: JP¥481.930b
  • Listing Market Cap: JP¥3.954b
  • Shares outstanding: 125.50m
  • Website: https://www.ty-top.com

Number of Employees


Location

  • Taiyo Yuden Co., Ltd.
  • Kyobashi East Building
  • 2-7-19, Kyobashi
  • Tokyo
  • 104-0031
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
6976TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1992
TYC1DB (Deutsche Boerse AG)YesCommon StockDEEURJan 1992
TYOY.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDNov 1992

Biography

Taiyo Yuden Co., Ltd. develops, manufactures, and sells electronic components worldwide. It offers multilayer ceramic capacitors for use in smartphones, automobiles, and other devices; ferrite and applied ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/30 20:56
End of Day Share Price2020/10/29 00:00
Earnings2020/06/30
Annual Earnings2020/03/31


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.