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8015

Toyota Tsusho TSE:8015 Stock Report

Last Price

JP¥4.48k

Market Cap

JP¥1.6t

7D

-8.3%

1Y

-2.5%

Updated

30 Sep, 2022

Data

Company Financials +
8015 fundamental analysis
Snowflake Score
Valuation6/6
Future Growth1/6
Past Performance5/6
Financial Health4/6
Dividends3/6

8015 Stock Overview

Toyota Tsusho Corporation engages in the metals, parts and logistics, automotive, machinery, energy and project, chemicals and electronics, and food and consumer services businesses worldwide.

Toyota Tsusho Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Toyota Tsusho
Historical stock prices
Current Share PriceJP¥4,480.00
52 Week HighJP¥5,660.00
52 Week LowJP¥4,215.00
Beta1.34
1 Month Change-6.08%
3 Month Change2.75%
1 Year Change-2.50%
3 Year Change34.54%
5 Year Change19.31%
Change since IPO455.83%

Recent News & Updates

Shareholder Returns

8015JP Trade DistributorsJP Market
7D-8.3%-4.4%-2.2%
1Y-2.5%16.4%-6.7%

Return vs Industry: 8015 underperformed the JP Trade Distributors industry which returned 16.4% over the past year.

Return vs Market: 8015 exceeded the JP Market which returned -6.7% over the past year.

Price Volatility

Is 8015's price volatile compared to industry and market?
8015 volatility
8015 Average Weekly Movement4.3%
Trade Distributors Industry Average Movement3.0%
Market Average Movement3.5%
10% most volatile stocks in JP Market7.4%
10% least volatile stocks in JP Market1.8%

Stable Share Price: 8015 is not significantly more volatile than the rest of JP stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 8015's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
194865,218Ichiro Kashitanihttps://www.toyota-tsusho.com

Toyota Tsusho Corporation engages in the metals, parts and logistics, automotive, machinery, energy and project, chemicals and electronics, and food and consumer services businesses worldwide. The company manufactures steel products, steel construction materials, non-ferrous metal ingots, precious metals, aluminum products, copper and ferro-alloy products, waste catalysts, pig iron, and rare earth resources and metals; and iron, steel, and nonferrous metals scraps, as well as recycles vehicles and auto parts. It also offers component parts for automotives; runs logistics, and tire and wheel assembly business; and sells passenger, commercial, and light vehicles, as well as motorcycles, trucks, buses, and automotive parts.

Toyota Tsusho Fundamentals Summary

How do Toyota Tsusho's earnings and revenue compare to its market cap?
8015 fundamental statistics
Market CapJP¥1.58t
Earnings (TTM)JP¥240.36b
Revenue (TTM)JP¥8.53t

6.6x

P/E Ratio

0.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
8015 income statement (TTM)
RevenueJP¥8.53t
Cost of RevenueJP¥7.72t
Gross ProfitJP¥814.25b
Other ExpensesJP¥573.89b
EarningsJP¥240.36b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 28, 2022

Earnings per share (EPS)683.15
Gross Margin9.54%
Net Profit Margin2.82%
Debt/Equity Ratio101.4%

How did 8015 perform over the long term?

See historical performance and comparison

Dividends

3.6%

Current Dividend Yield

23%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 8015 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 8015?

Other financial metrics that can be useful for relative valuation.

8015 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.4x
Enterprise Value/EBITDA6.9x
PEG Ratio2.1x

Price to Earnings Ratio vs Peers

How does 8015's PE Ratio compare to its peers?

8015 PE Ratio vs Peers
The above table shows the PE ratio for 8015 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average18.2x
8002 Marubeni
4.3x-5.4%JP¥2.2t
8053 Sumitomo
4.4x-3.5%JP¥2.3t
3064 MonotaRO
59.6x21.4%JP¥1.1t
2768 Sojitz
4.4x-5.2%JP¥490.3b
8015 Toyota Tsusho
6.6x3.1%JP¥1.6t

Price-To-Earnings vs Peers: 8015 is good value based on its Price-To-Earnings Ratio (6.6x) compared to the peer average (18.2x).


Price to Earnings Ratio vs Industry

How does 8015's PE Ratio compare vs other companies in the JP Trade Distributors Industry?

Price-To-Earnings vs Industry: 8015 is good value based on its Price-To-Earnings Ratio (6.6x) compared to the JP Trade Distributors industry average (8x)


Price to Earnings Ratio vs Fair Ratio

What is 8015's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

8015 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.6x
Fair PE Ratio15.6x

Price-To-Earnings vs Fair Ratio: 8015 is good value based on its Price-To-Earnings Ratio (6.6x) compared to the estimated Fair Price-To-Earnings Ratio (15.6x).


Share Price vs Fair Value

What is the Fair Price of 8015 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 8015 (¥4480) is trading below our estimate of fair value (¥7925.53)

Significantly Below Fair Value: 8015 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Toyota Tsusho forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


3.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 8015's forecast earnings growth (3.1% per year) is above the savings rate (0.04%).

Earnings vs Market: 8015's earnings (3.1% per year) are forecast to grow slower than the JP market (8.5% per year).

High Growth Earnings: 8015's earnings are forecast to grow, but not significantly.

Revenue vs Market: 8015's revenue (3% per year) is forecast to grow slower than the JP market (4.2% per year).

High Growth Revenue: 8015's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 8015's Return on Equity is forecast to be low in 3 years time (11.8%).


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Past Performance

How has Toyota Tsusho performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


10.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 8015 has high quality earnings.

Growing Profit Margin: 8015's current net profit margins (2.8%) are higher than last year (2.5%).


Past Earnings Growth Analysis

Earnings Trend: 8015's earnings have grown by 10.5% per year over the past 5 years.

Accelerating Growth: 8015's earnings growth over the past year (35.1%) exceeds its 5-year average (10.5% per year).

Earnings vs Industry: 8015 earnings growth over the past year (35.1%) exceeded the Trade Distributors industry 33.7%.


Return on Equity

High ROE: 8015's Return on Equity (12.9%) is considered low.


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Financial Health

How is Toyota Tsusho's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 8015's short term assets (¥4,242.2B) exceed its short term liabilities (¥2,916.1B).

Long Term Liabilities: 8015's short term assets (¥4,242.2B) exceed its long term liabilities (¥1,543.6B).


Debt to Equity History and Analysis

Debt Level: 8015's net debt to equity ratio (58.2%) is considered high.

Reducing Debt: 8015's debt to equity ratio has reduced from 125.9% to 101.4% over the past 5 years.

Debt Coverage: 8015's debt is not well covered by operating cash flow (1.8%).

Interest Coverage: 8015 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Toyota Tsusho current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


3.62%

Current Dividend Yield

Dividend Yield vs Market

Toyota Tsusho Dividend Yield vs Market
How does Toyota Tsusho dividend yield compare to the market?
SegmentDividend Yield
Company (Toyota Tsusho)3.6%
Market Bottom 25% (JP)1.7%
Market Top 25% (JP)3.7%
Industry Average (Trade Distributors)3.7%
Analyst forecast in 3 Years (Toyota Tsusho)4.0%

Notable Dividend: 8015's dividend (3.62%) is higher than the bottom 25% of dividend payers in the JP market (1.66%).

High Dividend: 8015's dividend (3.62%) is low compared to the top 25% of dividend payers in the JP market (3.73%).


Stability and Growth of Payments

Stable Dividend: 8015's dividend payments have been volatile in the past 10 years.

Growing Dividend: 8015's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (23.4%), 8015's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: 8015 is paying a dividend but the company has no free cash flows.


Discover strong dividend paying companies

Management

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

3.7yrs

Average management tenure


CEO

Ichiro Kashitani (63 yo)

4.25yrs

Tenure

JP¥125,000,000

Compensation

Mr. Ichiro Kashitani has been President and Chief Executive Officer of Toyota Tsusho Corporation since April 1, 2018 and serves as its Representative Director since June 21, 2018. He joined Toyota Tsusho C...


CEO Compensation Analysis

Ichiro Kashitani's Compensation vs Toyota Tsusho Earnings
How has Ichiro Kashitani's remuneration changed compared to Toyota Tsusho's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

JP¥240b

Mar 31 2022n/an/a

JP¥222b

Dec 31 2021n/an/a

JP¥226b

Sep 30 2021n/an/a

JP¥220b

Jun 30 2021n/an/a

JP¥178b

Mar 31 2021JP¥125mJP¥64m

JP¥135b

Dec 31 2020n/an/a

JP¥108b

Sep 30 2020n/an/a

JP¥98b

Jun 30 2020n/an/a

JP¥93b

Mar 31 2020JP¥125mJP¥62m

JP¥136b

Dec 31 2019n/an/a

JP¥139b

Sep 30 2019n/an/a

JP¥133b

Jun 30 2019n/an/a

JP¥142b

Mar 31 2019JP¥109mJP¥47m

JP¥133b

Compensation vs Market: Insufficient data to establish whether Ichiro's total compensation is reasonable compared to companies of similar size in the JP market.

Compensation vs Earnings: Ichiro's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: 8015's management team is considered experienced (3.7 years average tenure).


Board Members

Experienced Board: 8015's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


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

What is the ownership structure of 8015?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders283,0000.08%
Institutions95,760,67027.2%
Public Companies118,938,00033.8%
General Public136,864,26038.9%

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


Top Shareholders

Top 25 shareholders own 58.97% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
22.62%
Toyota Motor Corporation
79,573,000¥356.5b0%no data
11.19%
Toyota Industries Corporation
39,365,000¥176.4b0%no data
5.33%
Nomura Asset Management Co., Ltd.
18,743,500¥84.0b0%0.28%
2.32%
The Vanguard Group, Inc.
8,158,603¥36.6b2.1%0.01%
2.3%
MUFG Bank, Ltd.,Investment Banking Arm
8,098,000¥36.3b0%1.18%
2.21%
Nikko Asset Management Co., Ltd.
7,774,500¥34.8b-2.4%0.11%
2.14%
Daiwa Asset Management Co. Ltd.
7,523,300¥33.7b-0.37%0.24%
1.95%
BlackRock, Inc.
6,849,569¥30.7b-1.39%0.01%
1.21%
Sumitomo Mitsui Financial Group Inc., Asset Management Arm
4,249,000¥19.0b0%0.39%
1.12%
Mitsubishi UFJ Kokusai Asset Management Co., Ltd.
3,951,400¥17.7b0.46%0.16%
1%
Nissay Asset Management Corporation
3,522,000¥15.8b0%0.17%
0.94%
Norges Bank Investment Management
3,312,134¥14.8b0%0.01%
0.87%
Invesco Ltd.
3,053,800¥13.7b0%0.03%
0.6%
Baillie Gifford & Co.
2,101,206¥9.4b-35.64%0.03%
0.51%
Dimensional Fund Advisors LP
1,784,549¥8.0b9.4%0.01%
0.43%
Sumitomo Mitsui DS Asset Management Company, Limited
1,508,200¥6.8b-0.09%0.21%
0.39%
Asset Management One Co., Ltd.
1,365,800¥6.1b0.32%0.05%
0.36%
Geode Capital Management, LLC
1,255,589¥5.6b1.92%0.01%
0.34%
Goldman Sachs Asset Management, L.P.
1,196,098¥5.4b-0.29%0.02%
0.28%
Amundi Asset Management
979,980¥4.4b37.71%0.01%
0.22%
Charles Schwab Investment Management, Inc.
769,343¥3.4b2.81%0.01%
0.19%
State Street Global Advisors, Inc.
659,514¥3.0b0.85%no data
0.18%
CPP Investments
644,000¥2.9b0%0.02%
0.15%
Deutsche Asset & Wealth Management
527,395¥2.4b0.11%0.01%
0.15%
J.P. Morgan Asset Management, Inc.
524,091¥2.3b2.34%no data

Company Information

Toyota Tsusho Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Toyota Tsusho Corporation
  • Ticker: 8015
  • Exchange: TSE
  • Founded: 1948
  • Industry: Trading Companies and Distributors
  • Sector: Capital Goods
  • Implied Market Cap: JP¥1.576t
  • Shares outstanding: 351.85m
  • Website: https://www.toyota-tsusho.com

Number of Employees


Location

  • Toyota Tsusho Corporation
  • 9-8, Meieki 4-chome
  • Nakamura-ku
  • Nagoya
  • Aichi
  • 450-8575
  • Japan


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
8015TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1992
TYHO.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1992
9TODB (Deutsche Boerse AG)YesCommon StockDEEURJan 1992

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/30 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2022/03/31


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.