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Kyoritsu Electric

MUN:KYO
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KYO
MUN
¥10B
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

Kyoritsu Electric Corporation offers various systems, testing and measuring instruments, etc. The last earnings update was 67 days ago. More info.


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KYO Share Price and Events
7 Day Returns
0.2%
MUN:KYO
1.6%
DE Electronic
1.8%
DE Market
1 Year Returns
5.9%
MUN:KYO
-0.1%
DE Electronic
-6%
DE Market
KYO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kyoritsu Electric (KYO) 0.2% 4.3% 18.8% 5.9% 74.6% 103.2%
DE Electronic 1.6% 5.3% 20.4% -0.1% 98.5% 105%
DE Market 1.8% 4.2% 7.4% -6% 10.1% 15.4%
1 Year Return vs Industry and Market
  • KYO outperformed the Electronic industry which returned -0.1% over the past year.
  • KYO outperformed the Market in Germany which returned -6% over the past year.
Price Volatility
KYO
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Kyoritsu Electric's competitors could be found in our database.

Value

 Is Kyoritsu Electric 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 Kyoritsu Electric 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 Kyoritsu Electric.

MUN:KYO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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

Calculation of Discount Rate/ Cost of Equity for MUN:KYO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.067 (1 + (1- 30.86%) (17.29%))
1.131
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.131 * 5.96%)
6.97%

Discounted Cash Flow Calculation for MUN:KYO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Kyoritsu Electric 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.

MUN:KYO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 6.97%)
2019 193.31 Est @ -16.33% 180.72
2020 171.34 Est @ -11.37% 149.75
2021 157.83 Est @ -7.89% 128.96
2022 149.22 Est @ -5.45% 113.98
2023 143.63 Est @ -3.75% 102.57
2024 139.96 Est @ -2.56% 93.43
2025 137.55 Est @ -1.72% 85.85
2026 135.99 Est @ -1.14% 79.34
2027 135.00 Est @ -0.73% 73.64
2028 134.41 Est @ -0.44% 68.54
Present value of next 10 years cash flows ¥1,076.78
MUN:KYO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ¥134.41 × (1 + 0.23%) ÷ (6.97% – 0.23%)
¥1,999.07
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥1,999.07 ÷ (1 + 6.97%)10
¥1,019.39
MUN:KYO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥1,076.78 + ¥1,019.39
¥2,096.16
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥2,096.16 / 4.02
¥520.86
MUN:KYO Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in MUN:KYO represents 0.00757x of JASDAQ:6874
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00757x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 520.86 x 0.00757
€3.94
Value per share (EUR) From above. €3.94
Current discount Discount to share price of €18.49
= -1 x (€18.49 - €3.94) / €3.94
-369%

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

  • The current share price of Kyoritsu Electric 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 Kyoritsu Electric's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kyoritsu Electric's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MUN:KYO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in JPY ¥283.76
JASDAQ:6874 Share Price ** JASDAQ (2019-04-18) in JPY ¥2443
Germany Electronic Industry PE Ratio Median Figure of 13 Publicly-Listed Electronic Companies 23.37x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.59x

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

** Primary Listing of Kyoritsu Electric.

MUN:KYO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= JASDAQ:6874 Share Price ÷ EPS (both in JPY)

= 2443 ÷ 283.76

8.61x

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

  • Kyoritsu Electric is good value based on earnings compared to the DE Electronic industry average.
  • Kyoritsu Electric is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Kyoritsu Electric's expected growth come at a high price?
Raw Data
MUN:KYO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
10.6%per year
Germany Electronic Industry PEG Ratio Median Figure of 12 Publicly-Listed Electronic Companies 2.1x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Kyoritsu Electric, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Kyoritsu Electric's assets?
Raw Data
MUN:KYO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in JPY ¥2,719.70
JASDAQ:6874 Share Price * JASDAQ (2019-04-18) in JPY ¥2443
Germany Electronic Industry PB Ratio Median Figure of 19 Publicly-Listed Electronic Companies 2.57x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.84x
MUN:KYO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= JASDAQ:6874 Share Price ÷ Book Value per Share (both in JPY)

= 2443 ÷ 2,719.70

0.9x

* Primary Listing of Kyoritsu Electric.

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

  • Kyoritsu Electric is good value based on assets compared to the DE Electronic industry average.
X
Value checks
We assess Kyoritsu Electric'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Kyoritsu Electric 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 Kyoritsu Electric expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Kyoritsu Electric, future earnings growth has been estimated based on fundamentals.
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
10.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kyoritsu Electric expected to grow at an attractive rate?
  • Kyoritsu Electric's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Kyoritsu Electric's earnings growth is positive but not above the Germany market average.
  • Unable to compare Kyoritsu Electric's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
MUN:KYO Future Growth Rates Data Sources
Data Point Source Value (per year)
MUN:KYO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 10.6%
Germany Electronic Industry Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Electronic Industry Revenue Growth Rate Market Cap Weighted Average 7.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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
MUN:KYO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MUN:KYO Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
MUN:KYO Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-12-31 34,312 498 1,142
2018-09-30 33,798 1,051
2018-06-30 33,027 419 1,021
2018-03-31 32,027 984
2017-12-31 31,919 1,700 1,149
2017-09-30 31,472 1,141
2017-06-30 30,940 874 1,064
2017-03-31 31,029 1,032
2016-12-31 30,711 824 848
2016-09-30 30,705 788
2016-06-30 31,294 1,158 758
2016-03-31 31,069 781

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kyoritsu Electric's earnings are expected to grow by 10.6% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Kyoritsu Electric is high growth as no revenue estimate data is available.
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
MUN:KYO 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 0 Analyst Estimates (S&P Global) See Below

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

MUN:KYO Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
MUN:KYO Past Financials Data
Date (Data in JPY Millions) EPS *
2018-12-31 283.76
2018-09-30 261.15
2018-06-30 253.70
2018-03-31 244.49
2017-12-31 285.49
2017-09-30 283.50
2017-06-30 264.37
2017-03-31 256.54
2016-12-31 210.95
2016-09-30 196.25
2016-06-30 189.06
2016-03-31 195.08

*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.
  • Unable to establish if Kyoritsu Electric will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Kyoritsu Electric'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.
Kyoritsu Electric 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 Kyoritsu Electric 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 Kyoritsu Electric's growth in the last year to its industry (Electronic).
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.
  • Kyoritsu Electric's year on year earnings growth rate has been positive over the past 5 years.
  • Kyoritsu Electric's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Kyoritsu Electric's 1-year earnings growth is negative, it can't be compared to the DE Electronic industry average.
Earnings and Revenue History
Kyoritsu Electric'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 Kyoritsu Electric Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MUN:KYO Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 34,312.00 1,142.00 3,579.00 220.00
2018-09-30 33,798.00 1,051.00 3,567.00 220.00
2018-06-30 33,027.00 1,021.00 3,531.00 220.00
2018-03-31 32,027.00 984.00 3,551.00 209.00
2017-12-31 31,919.00 1,149.00 3,542.00 209.00
2017-09-30 31,472.00 1,141.00 3,533.00 209.00
2017-06-30 30,940.00 1,064.00 3,487.00 209.00
2017-03-31 31,029.00 1,032.00 3,461.00 197.00
2016-12-31 30,711.00 848.00 3,422.00 197.00
2016-09-30 30,705.00 788.00 3,390.00 197.00
2016-06-30 31,294.00 758.00 3,392.00 197.00
2016-03-31 31,069.00 781.00 3,367.00 199.00
2015-12-31 30,761.00 581.00 3,359.00 199.00
2015-09-30 29,596.00 518.00 3,353.00 199.00
2015-06-30 29,525.00 629.00 3,348.00 199.00
2015-03-31 28,203.00 622.00 3,307.00 153.00
2014-12-31 27,557.00 555.00 3,237.00 153.00
2014-09-30 27,816.00 582.00 3,187.00 153.00
2014-06-30 27,306.00 474.00 3,149.00 153.00
2014-03-31 26,703.00 468.00 3,065.00 217.00
2013-12-31 26,074.00 519.00 3,108.00 217.00
2013-09-30 25,812.00 538.00 3,128.00 217.00
2013-06-30 26,267.00 600.00 3,092.00 217.00
2013-03-31 26,929.00 535.00 3,125.00 265.00
2012-12-31 27,964.00 542.00 3,098.00 265.00
2012-09-30 27,522.00 385.00 3,067.00 265.00
2012-06-30 26,873.00 298.00 3,056.00 265.00

*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.
  • Kyoritsu Electric has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Kyoritsu Electric used its assets less efficiently than the DE Electronic industry average last year based on Return on Assets.
  • Kyoritsu Electric has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kyoritsu Electric'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 Electronic 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.
Kyoritsu Electric 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 Kyoritsu Electric'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 Kyoritsu Electric's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kyoritsu Electric is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kyoritsu Electric's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kyoritsu Electric'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 9.2x 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 Kyoritsu Electric Company Filings, last reported 3 months ago.

MUN:KYO Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 11,404.00 1,700.00 1,121.00
2018-09-30 11,134.00 1,700.00 1,198.00
2018-06-30 11,087.00 1,700.00 1,546.00
2018-03-31 11,129.00 1,700.00 1,373.00
2017-12-31 10,737.00 1,700.00 1,324.00
2017-09-30 10,298.00 1,700.00 1,283.00
2017-06-30 10,277.00 1,700.00 1,741.00
2017-03-31 10,189.00 3,406.00 3,320.00
2016-12-31 9,572.00 3,900.00 1,199.00
2016-09-30 9,073.00 3,800.00 1,219.00
2016-06-30 9,030.00 3,500.00 1,759.00
2016-03-31 9,044.00 3,900.00 1,748.00
2015-12-31 8,722.00 4,300.00 1,061.00
2015-09-30 8,384.00 4,110.00 1,377.00
2015-06-30 8,570.00 3,718.00 1,429.00
2015-03-31 8,475.00 5,022.00 1,904.00
2014-12-31 8,243.00 4,727.00 1,033.00
2014-09-30 8,044.00 4,408.00 1,185.00
2014-06-30 7,775.00 3,046.00 1,380.00
2014-03-31 7,801.00 4,084.00 1,586.00
2013-12-31 7,690.00 4,256.00 1,352.00
2013-09-30 7,419.00 3,867.00 1,672.00
2013-06-30 7,425.00 3,375.00 1,510.00
2013-03-31 7,330.00 4,380.00 1,284.00
2012-12-31 7,070.00 5,685.00 2,374.00
2012-09-30 6,636.00 5,496.00 1,446.00
2012-06-30 6,569.00 4,005.00 981.00
  • Kyoritsu Electric's level of debt (14.9%) 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 (55.3% vs 14.9% today).
  • Debt is well covered by operating cash flow (29.3%, greater than 20% of total debt).
  • Kyoritsu Electric earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Kyoritsu Electric'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. Kyoritsu Electric has a total score of 6/6, 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 Kyoritsu Electric'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
2.25%
Current annual income from Kyoritsu Electric dividends.
If you bought €2,000 of Kyoritsu Electric shares you are expected to receive €45 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?
  • Kyoritsu Electric's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Kyoritsu Electric's dividend is below the markets top 25% of dividend payers in Germany (3.72%).
Upcoming dividend payment

Purchase Kyoritsu Electric 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
MUN:KYO 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 0 Analyst Estimates (S&P Global) See Below
Germany Electronic Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 1.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3%
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 3.7%

Industry and Market average data is calculated daily.

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

MUN:KYO Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
MUN:KYO Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-02-07 55.000 2.560
2018-09-27 55.000 2.583
2018-08-09 55.000 2.288
2018-02-07 50.000 1.980
2017-09-28 45.000 1.731
2017-08-09 45.000 2.036
2017-05-09 45.000 1.996
2016-09-29 40.000 2.658
2016-08-10 40.000 3.036
2016-05-10 40.000 2.879
2015-09-28 35.000 2.386
2015-08-10 35.000 2.250
2015-05-08 35.000 1.880
2014-11-07 35.000 2.054
2014-09-26 35.000 2.049
2014-08-08 35.000 2.442
2014-05-09 32.500 2.387
2013-09-26 32.500 2.374
2013-08-09 32.500 2.550
2013-05-09 30.000 2.063
2012-09-27 22.917 1.725
2012-08-10 22.917 1.917
2012-05-10 22.917 1.770
2011-11-08 22.917 2.012
2011-09-29 22.917 2.218
2011-08-12 22.917 2.209
2011-05-10 20.833 1.919
2011-02-04 20.833 2.436
2010-11-05 20.833 2.512
2010-09-29 20.833 2.796
2010-08-16 20.833 2.682
2010-05-11 20.833 2.607
2010-02-05 20.833 2.438
2009-11-06 20.833 1.974
2009-09-28 20.833 1.938
2009-08-14 20.833 1.859
2009-04-21 20.833 1.663

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Kyoritsu Electric's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (6x 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 Kyoritsu Electric'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 Kyoritsu Electric afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kyoritsu Electric has a total score of 4/6, 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 Kyoritsu Electric'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
Nobuyuki Nishi
AGE 62
TENURE AS CEO 2.6 years
CEO Bio

Nobuyuki Nishi serves as President and Representative Director at Kyoritsu Electric Corporation since September 28, 2016. He served as Director of Kyoritsu Electric Corporation since April 1986, Branch Manager of Tokyo Regional Office at Kyoritsu Electric Corporation since August 1990, Managing Director of Kyoritsu Electric Corporation since August 1994, Vice-President and Representative Director of Kyoritsu Test System Corp. since August 2001, General Manager of 4th Sales Division of Kyoritsu Electric Corporation since August 2007, Senior Managing Director of Kyoritsu Electric Corporation since September 2007, Senior Advisor of Kyoritsu Electric Corporation since November 2015, Representative director of Kyoritsu Test System Corp. since December 2015.

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

Average tenure and age of the Kyoritsu Electric management team in years:

19.6
Average Tenure
69
Average Age
  • The average tenure for the Kyoritsu Electric management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Nobuyuki Nishi

TITLE
President and Representative Director
AGE
62
TENURE
2.6 yrs

Nobuyuki Yamaguchi

TITLE
Managing Director
AGE
62
TENURE
24.8 yrs

Shigezo Tauchi

TITLE
Representative Senior Managing Director
AGE
71
TENURE
15.3 yrs

Akira Matsushita

TITLE
General Manager of CE Division and Director
AGE
69
TENURE
19.6 yrs

Kunio Mochizuki

TITLE
General Manager of 1st Engineering Division and Director
AGE
69
TENURE
31 yrs
Board of Directors Tenure

Average tenure and age of the Kyoritsu Electric board of directors in years:

4.6
Average Tenure
69
Average Age
  • The tenure for the Kyoritsu Electric board of directors is about average.
Board of Directors

Nobuyuki Nishi

TITLE
President and Representative Director
AGE
62
TENURE
2.6 yrs

Nobuyuki Yamaguchi

TITLE
Managing Director
AGE
62

Shigezo Tauchi

TITLE
Representative Senior Managing Director
AGE
71
TENURE
2.6 yrs

Akira Matsushita

TITLE
General Manager of CE Division and Director
AGE
69
TENURE
22.6 yrs

Kunio Mochizuki

TITLE
General Manager of 1st Engineering Division and Director
AGE
69
TENURE
27 yrs

Kenichi Kawai

TITLE
External Director
AGE
69
TENURE
5.6 yrs

Kiyoji Ito

TITLE
External Part-Time Auditor
AGE
69
TENURE
16.6 yrs

Hirohiko Tajiri

TITLE
Full-Time Auditor
AGE
69
TENURE
4.6 yrs

Toru Ikegami

TITLE
External Full-Time Auditor
AGE
69
TENURE
3.6 yrs

Mitsuyo Nishi

TITLE
Part-Time Auditor
TENURE
2.6 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 Kyoritsu Electric'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. Kyoritsu Electric 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

Kyoritsu Electric Corporation offers various systems, testing and measuring instruments, etc. primarily in Japan. It provides process automation products, such as integrated production control systems, network-based control systems, and compact control systems, as well as flow, pressure, and temperature sensors; and factory automation products and services that include Web camera monitoring systems and system integration services. The company also provides test and measurement products, including automatic optical measurement products, in-circuit testers, vibroducers, combination testers, PC-based function testers, PC-based multi meters and oscilloscopes, data acquisition systems, and digital oscilloscopes; laboratory automation products; and open network products, such as Linux servers and diskless servers. In addition, it offers civil automation products, which include shield and tunnel boring machine management systems; electromagnetic compatibility products; and environmental products. The company’s customers include manufacturers in various fields of industries, such as automobiles, electrical appliances, semiconductors, pulp and paper, pharmaceuticals, and chemical industries. Kyoritsu Electric Corporation was founded in 1957 and is based in Shizuoka, Japan.

Details
Name: Kyoritsu Electric Corporation
KYO
Exchange: MUN
Founded: 1957
¥78,104,751
4,024,399
Website: http://www.kdwan.co.jp
Address: Kyoritsu Electric Corporation
61-1, Nakadahon-cho,
Suruga-ku,
Shizuoka,
Shizuoka, 422-8686,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
JASDAQ 6874 Common Stock TSE JASDAQ JP JPY 08. Jun 1998
MUN KYO Common Stock Boerse Muenchen DE EUR 08. Jun 1998
Number of employees
Current staff
Staff numbers
632
Kyoritsu Electric employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 20:46
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2018/08/09
Last earnings filing: 2019/02/12
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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.