TSE:2269

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Executive Summary

Meiji Holdings Co., Ltd., through its subsidiaries, manufactures and sells dairy products, confectioneries, nutritional products, and pharmaceuticals in Japan and internationally.


Snowflake Analysis

Flawless balance sheet with solid track record and pays a dividend.


Similar Companies

Share Price & News

How has Meiji Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2269 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.1%

2269

-1.0%

JP Food

-2.1%

JP Market


1 Year Return

11.5%

2269

-1.6%

JP Food

-2.2%

JP Market

Return vs Industry: 2269 exceeded the JP Food industry which returned -1.7% over the past year.

Return vs Market: 2269 exceeded the JP Market which returned -2.7% over the past year.


Shareholder returns

2269IndustryMarket
7 Day2.1%-1.0%-2.1%
30 Day5.8%-1.4%-3.0%
90 Day14.0%7.1%17.8%
1 Year13.6%11.5%-0.04%-1.6%0.3%-2.2%
3 Year0.8%-4.3%-3.7%-7.8%5.3%-2.0%
5 Year14.3%6.5%14.2%6.9%15.0%2.5%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Meiji Holdings undervalued compared to its fair value and its price relative to the market?

18.45x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 2269 (¥8560) is trading above our estimate of fair value (¥4074.79)

Significantly Below Fair Value: 2269 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 2269 is good value based on its PE Ratio (18.4x) compared to the Food industry average (19.2x).

PE vs Market: 2269 is poor value based on its PE Ratio (18.4x) compared to the JP market (14.8x).


Price to Earnings Growth Ratio

PEG Ratio: 2269 is poor value based on its PEG Ratio (6.1x)


Price to Book Ratio

PB vs Industry: 2269 is overvalued based on its PB Ratio (2.2x) compared to the JP Food industry average (1x).


Next Steps

Future Growth

How is Meiji Holdings forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

3.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2269's forecast earnings growth (3% per year) is above the savings rate (0.05%).

Earnings vs Market: 2269's earnings (3% per year) are forecast to grow slower than the JP market (12.5% per year).

High Growth Earnings: 2269's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2269's revenue (0.7% per year) is forecast to grow slower than the JP market (3.3% per year).

High Growth Revenue: 2269's revenue (0.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2269's Return on Equity is forecast to be low in 3 years time (11.1%).


Next Steps

Past Performance

How has Meiji Holdings performed over the past 5 years?

5.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2269 has high quality earnings.

Growing Profit Margin: 2269's current net profit margins (5.4%) are higher than last year (4.9%).


Past Earnings Growth Analysis

Earnings Trend: 2269's earnings have grown by 5.8% per year over the past 5 years.

Accelerating Growth: 2269's earnings growth over the past year (8.9%) exceeds its 5-year average (5.8% per year).

Earnings vs Industry: 2269 earnings growth over the past year (8.9%) exceeded the Food industry -2%.


Return on Equity

High ROE: 2269's Return on Equity (11.7%) is considered low.


Next Steps

Financial Health

How is Meiji Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 2269's short term assets (¥416.9B) exceed its short term liabilities (¥256.5B).

Long Term Liabilities: 2269's short term assets (¥416.9B) exceed its long term liabilities (¥144.6B).


Debt to Equity History and Analysis

Debt Level: 2269's debt to equity ratio (17.9%) is considered satisfactory.

Reducing Debt: 2269's debt to equity ratio has reduced from 58.1% to 17.9% over the past 5 years.

Debt Coverage: 2269's debt is well covered by operating cash flow (106.9%).

Interest Coverage: 2269 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Meiji Holdings's current dividend yield, its reliability and sustainability?

1.75%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 2269's dividend (1.75%) is higher than the bottom 25% of dividend payers in the JP market (1.48%).

High Dividend: 2269's dividend (1.75%) is low compared to the top 25% of dividend payers in the JP market (3.5%).


Stability and Growth of Payments

Stable Dividend: 2269's dividends per share have been stable in the past 10 years.

Growing Dividend: 2269's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.3%), 2269'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?

5.6yrs

Average management tenure


CEO

Kazuo Kawamura (67yo)

2.08yrs

Tenure

JP¥135,000,000

Compensation

Mr. Kazuo Kawamura has been President of Meiji Holdings Co., Ltd. since June 2018. Mr. Kawamura served as President at Meiji Co., Ltd. since June 2012 until June 2018. Mr. Kawamura serves as Director of Me ...


CEO Compensation Analysis

Compensation vs Market: Kazuo's total compensation ($USD1.26M) is below average for companies of similar size in the JP market ($USD1.86M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Kazuo Kawamura
President & Representative Director2.08yrsJP¥135.00m0.022% ¥267.5m
Koichiro Shiozaki
GM of Financial & Accounting Department5.08yrsno data0.0068% ¥84.8m
Jun Furuta
Managing Executive Officer6.08yrsno data0.0027% ¥33.9m
Michiro Saza
Sr. Managing Exec. Officer of Corp. Dev. Dept.8.08yrsno data0.0086% ¥106.7m

5.6yrs

Average Tenure

Experienced Management: 2269's management team is seasoned and experienced (5.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kazuo Kawamura
President & Representative Director2.08yrsJP¥135.00m0.022% ¥267.5m
Koichiro Shiozaki
GM of Financial & Accounting Department5.08yrsno data0.0068% ¥84.8m
Jun Furuta
Managing Executive Officer6.08yrsno data0.0027% ¥33.9m
Michiro Saza
Sr. Managing Exec. Officer of Corp. Dev. Dept.8.08yrsno data0.0086% ¥106.7m
Tomochika Iwashita
Independent Outside Director4yrsno data0.00050% ¥6.2m
Hajime Watanabe
Independent Outside Audit & Supervisory Board Member7.08yrsno datano data
Daikichiro Kobayashi
Director6.08yrsno data0.0064% ¥79.8m
Tohru Murayama
Independent Outside Director4yrsno data0.00037% ¥4.6m
Katsunari Matsuda
Director2.08yrsno data0.0050% ¥62.5m
Mariko Matsumura
Independent Outside Director2.08yrsno data0.000040% ¥496.7k

5.6yrs

Average Tenure

67yo

Average Age

Experienced Board: 2269's board of directors are considered experienced (5.6 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

Meiji Holdings Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Meiji Holdings Co., Ltd.
  • Ticker: 2269
  • Exchange: TSE
  • Founded: 1916
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Market Cap: JP¥1.242t
  • Shares outstanding: 145.07m
  • Website: https://www.meiji.com

Number of Employees


Location

  • Meiji Holdings Co., Ltd.
  • 2-4-16, Kyobashi
  • Chuo-ku
  • Tokyo
  • 104-0031
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2269TSE (The Tokyo Stock Exchange)YesCommon SharesJPJPYMar 2009
MEJH.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDMar 2009
3M0DB (Deutsche Boerse AG)YesCommon SharesDEEURMar 2009
MEJH.YOTCPK (Pink Sheets LLC)ADRUSUSDOct 2012

Biography

Meiji Holdings Co., Ltd., through its subsidiaries, manufactures and sells dairy products, confectioneries, nutritional products, and pharmaceuticals in Japan and internationally. The company operates in two segments, Food and Pharmaceutical. It offers yogurt, drinking milk, beverages, cheese, butter and margarine, cream, ice cream, frozen foods, chocolates, gummy products, chewing gums, sports nutrition products, infant and eternal formula, beauty supplements, OTC drugs, foodstuffs, livestock products, and sugar and corn sweeteners, as well as transportation services. The company also provides drugs for infectious diseases and central nervous system disorders, as well as generic drugs; agricultural and livestock chemicals, and drugs for companion; human vaccines, blood plasma products, and veterinary vaccines for chickens, pigs, cows, dogs, and cats. Meiji Holdings Co., Ltd. was founded in 1916 and is headquartered in Tokyo, Japan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/03 14:49
End of Day Share Price2020/07/02 00:00
Earnings2020/03/31
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.