T.O. HoldingsLTD (TSE:9812) - Share price, News & Analysis

9812 fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	2/6
Financial Health	1/6
Dividends	0/6

9812 Stock Overview

Rewards

Price-To-Earnings ratio (10.9x) is below the JP market (12.4x)

Became profitable this year

Risk Analysis

Interest payments are not well covered by earnings

Volatile share price over the past 3 months

Large one-off items impacting financial results

Does not have a meaningful market cap (¥2B)

T.O. HoldingsLTD Competitors

Money Partners GroupLtd

TSE:8732

JP¥8.3b

meinan M&Altd

NSE:7076

JP¥3.1b

ONDECK

TSE:7360

JP¥3.7b

ASTMAX

TSE:7162

JP¥3.4b

Price History & Performance

Summary of all time highs, changes and price drops for T.O. HoldingsLTD
Historical stock prices
Current Share Price	JP¥355.00
52 Week High	JP¥884.00
52 Week Low	JP¥222.00
Beta	1.33
1 Month Change	14.89%
3 Month Change	9.23%
1 Year Change	-5.59%
3 Year Change	-44.62%
5 Year Change	-55.74%
Change since IPO	-87.76%

Shareholder Returns

	9812	JP Diversified Financial	JP Market
7D	1.7%	1.2%	1.8%
1Y	-5.6%	7.5%	-4.7%

Return vs Industry: 9812 underperformed the JP Diversified Financial industry which returned 7.5% over the past year.

Return vs Market: 9812 matched the JP Market which returned -4.7% over the past year.

Price Volatility

Is 9812's price volatile compared to industry and market?
9812 volatility
9812 Average Weekly Movement	7.4%
Diversified Financial Industry Average Movement	3.2%
Market Average Movement	4.2%
10% most volatile stocks in JP Market	8.5%
10% least volatile stocks in JP Market	2.3%

Stable Share Price: 9812 is more volatile than 75% of JP stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 9812's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of JP stocks.

About the Company

Founded	Employees	CEO	Website
1950	621	Yasumasa Ogasawara	https://www.tohd.co.jp

T.O. Holdings Co.,Ltd., through its subsidiaries, engages in the distribution of clothing, furniture, home appliances, household appliances, mobile phone agency, and credit card business in Japan and internationally. It also offers consumer loans; sells DIY supplies and groceries; sells DVD / CD rentals, books/magazines, etc.; constructs and sells detached houses, condominiums, and residential land; and sells timber and building materials. In addition, the company is involved in the civil engineering, pavement, and construction works, such as buildings and commercial facilities; leasing business of land and buildings, comprising of condominiums, detached houses, offices, warehouses, etc.; automobile sales and automobile repair business; and operation of sports clubs and swimming schools.

T.O. HoldingsLTD Fundamentals Summary

How do T.O. HoldingsLTD's earnings and revenue compare to its market cap?
9812 fundamental statistics
Market Cap	JP¥2.17b
Earnings (TTM)	JP¥208.00m
Revenue (TTM)	JP¥29.62b

10.9x

P/E Ratio

0.1x

P/S Ratio

Is 9812 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
9812 income statement (TTM)
Revenue	JP¥29.62b
Cost of Revenue	JP¥22.81b
Gross Profit	JP¥6.81b
Other Expenses	JP¥6.61b
Earnings	JP¥208.00m

Last Reported Earnings

Feb 28, 2022

Next Earnings Date

Jul 14, 2022

Earnings per share (EPS)	32.46
Gross Margin	23.00%
Net Profit Margin	0.70%
Debt/Equity Ratio	1,576.7%

How did 9812 perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is 9812 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9812?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 9812. This is calculated by dividing 9812's market cap by their current preferred multiple.
What is 9812's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	JP¥2.17b

9812 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/Revenue	0.5x
Enterprise Value/EBITDA	16.4x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 9812's PE Ratio compare to its peers?

9812 PE Ratio vs Peers

The above table shows the PE ratio for 9812 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	18.7x
8732 Money Partners GroupLtd	11.3x	n/a	JP¥8.3b
7076 meinan M&Altd	13x	n/a	JP¥3.1b
7360 ONDECK	24.7x	n/a	JP¥3.7b
7162 ASTMAX	25.7x	n/a	JP¥3.4b
9812 T.O. HoldingsLTD	10.9x	n/a	JP¥2.2b

Forward PE

Price-To-Earnings vs Peers: 9812 is good value based on its Price-To-Earnings Ratio (10.9x) compared to the peer average (18.7x).

Price to Earnings Ratio vs Industry

How does 9812's PE Ratio compare vs other companies in the JP Diversified Financial Industry?

Price-To-Earnings vs Industry: 9812 is good value based on its Price-To-Earnings Ratio (10.9x) compared to the JP Diversified Financial industry average (11.3x)

Price to Earnings Ratio vs Fair Ratio

What is 9812'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.

9812 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	10.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 9812's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of 9812 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate 9812's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate 9812's fair value for valuation analysis.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 9812's PEG Ratio to determine if it is good value.

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Future Growth

How is T.O. HoldingsLTD forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

9.5%

Forecasted Diversified Financials industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as T.O. HoldingsLTD has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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Take a look at our analysis of 9812’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.

Past Performance

How has T.O. HoldingsLTD performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

4.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 9812 has a large one-off gain of ¥265.0M impacting its February 28 2022 financial results.

Growing Profit Margin: 9812 became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: 9812 has become profitable over the past 5 years, growing earnings by 4.1% per year.

Accelerating Growth: 9812 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: 9812 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Diversified Financial industry (14.5%).

Return on Equity

High ROE: Whilst 9812's Return on Equity (26%) is high, this metric is skewed due to their high level of debt.

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Financial Health

How is T.O. HoldingsLTD's financial position?

Financial Health Score

1/6

Financial Health Score 1/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 9812's short term assets (¥9.1B) do not cover its short term liabilities (¥13.6B).

Long Term Liabilities: 9812's short term assets (¥9.1B) exceed its long term liabilities (¥6.1B).

Debt to Equity History and Analysis

Debt Level: 9812's net debt to equity ratio (1485%) is considered high.

Reducing Debt: 9812's debt to equity ratio has increased from 388.2% to 1576.7% over the past 5 years.

Debt Coverage: 9812's debt is not well covered by operating cash flow (10.2%).

Interest Coverage: 9812's interest payments on its debt are not well covered by EBIT (1.6x coverage).

Balance Sheet

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Dividend

What is T.O. HoldingsLTD current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate 9812's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 9812's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 9812's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 9812's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: 9812 is not paying a notable dividend for the JP market.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as 9812 has not reported any payouts.

Discover strong dividend paying companies

Management

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

8.8yrs

Average board tenure

CEO

Yasumasa Ogasawara (65 yo)

17.83yrs

Tenure

Mr. Yasumasa Ogasawara has been the Executive President at TO Ogasawara Co., Ltd., since August 2004 and General Supervisor since August 2013 and K.K. T.O. Facilities since June 2005. Mr. Ogasawara served...

Board Members

Experienced Board: 9812's board of directors are considered experienced (8.8 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.

Data	Last Updated (UTC time)
Company Analysis	2022/06/28 00:00
End of Day Share Price	2022/06/28 00:00
Earnings	2022/02/28
Annual Earnings	2021/05/31