Nomura Real Estate Holdings
Market Cap
JP¥401.8b
Last Updated
2021/01/22 08:13 UTC
Data Sources
Company Financials +
Executive Summary
Nomura Real Estate Holdings, Inc. operates as a real estate company in Japan and internationally. More Details
Rewards
Risk Analysis
Snowflake Analysis
Good value with proven track record and pays a dividend.
Similar Companies
Share Price & News
How has Nomura Real Estate Holdings's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 3231 is not significantly more volatile than the rest of JP stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: 3231's weekly volatility (5%) has been stable over the past year.
Market Performance
7 Day Return
-0.04%
3231
-1.6%
JP Real Estate
-0.5%
JP Market
1 Year Return
-19.7%
3231
-16.5%
JP Real Estate
7.8%
JP Market
Return vs Industry: 3231 underperformed the JP Real Estate industry which returned -16.5% over the past year.
Return vs Market: 3231 underperformed the JP Market which returned 7.8% over the past year.
Shareholder returns
| 3231 | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.04% | -1.6% | -0.5% |
| 30 Day | 1.7% | 0.8% | 5.5% |
| 90 Day | 12.4% | 4.9% | 13.9% |
| 1 Year | -16.3%-19.7% | -14.2%-16.5% | 10.5%7.8% |
| 3 Year | -12.2%-21.1% | -22.3%-27.6% | 6.8%-0.7% |
| 5 Year | 26.5%6.5% | 7.0%-3.4% | 51.0%34.0% |
Long-Term Price Volatility Vs. Market
How volatile is Nomura Real Estate Holdings's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Nomura Real Estate Holdings undervalued compared to its fair value and its price relative to the market?
8.37x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: 3231 (¥2231) is trading above our estimate of fair value (¥2003.42)
Significantly Below Fair Value: 3231 is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: 3231 is good value based on its PE Ratio (8.4x) compared to the JP Real Estate industry average (13.1x).
PE vs Market: 3231 is good value based on its PE Ratio (8.4x) compared to the JP market (17.5x).
Price to Earnings Growth Ratio
PEG Ratio: 3231 is good value based on its PEG Ratio (0.9x)
Price to Book Ratio
PB vs Industry: 3231 is good value based on its PB Ratio (0.7x) compared to the JP Real Estate industry average (1.1x).
Next Steps
Future Growth
How is Nomura Real Estate Holdings forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?
9.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 3231's forecast earnings growth (9.5% per year) is above the savings rate (0%).
Earnings vs Market: 3231's earnings (9.5% per year) are forecast to grow slower than the JP market (17.7% per year).
High Growth Earnings: 3231's earnings are forecast to grow, but not significantly.
Revenue vs Market: 3231's revenue (4.3% per year) is forecast to grow slower than the JP market (5.6% per year).
High Growth Revenue: 3231's revenue (4.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 3231's Return on Equity is forecast to be low in 3 years time (8.2%).
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Past Performance
How has Nomura Real Estate Holdings performed over the past 5 years?
-1.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 3231 has high quality earnings.
Growing Profit Margin: 3231's current net profit margins (7.4%) are higher than last year (6.6%).
Past Earnings Growth Analysis
Earnings Trend: 3231's earnings have declined by 1.1% per year over the past 5 years.
Accelerating Growth: 3231's earnings growth over the past year (7%) exceeds its 5-year average (-1.1% per year).
Earnings vs Industry: 3231 earnings growth over the past year (7%) exceeded the Real Estate industry -16.5%.
Return on Equity
High ROE: 3231's Return on Equity (8.7%) is considered low.
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Financial Health
How is Nomura Real Estate Holdings's financial position?
Financial Position Analysis
Short Term Liabilities: 3231's short term assets (¥945.6B) exceed its short term liabilities (¥212.7B).
Long Term Liabilities: 3231's short term assets (¥945.6B) do not cover its long term liabilities (¥1,074.8B).
Debt to Equity History and Analysis
Debt Level: 3231's debt to equity ratio (183.1%) is considered high.
Reducing Debt: 3231's debt to equity ratio has increased from 148.4% to 183.1% over the past 5 years.
Debt Coverage: 3231's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: 3231's interest payments on its debt are well covered by EBIT (9.6x coverage).
Balance Sheet
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Dividend
What is Nomura Real Estate Holdings's current dividend yield, its reliability and sustainability?
3.59%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: 3231's dividend (3.59%) is higher than the bottom 25% of dividend payers in the JP market (1.22%).
High Dividend: 3231's dividend (3.59%) is in the top 25% of dividend payers in the JP market (2.96%)
Stability and Growth of Payments
Stable Dividend: 3231's dividend payments have been volatile in the past 10 years.
Growing Dividend: 3231's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (30%), 3231'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.
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Management
How experienced are the management team and are they aligned to shareholders interests?
2.8yrs
Average management tenure
CEO
Eiji Kutsukake (60 yo)
5.58yrs
Tenure
JP¥128,000,000
Compensation
Mr. Eiji Kutsukake has been the Chief Executive Officer and President at Nomura Real Estate Holdings, Inc. since June 2015. Mr. Kutsukake served as an Executive Vice President of Nomura Real Estate Holding...
CEO Compensation Analysis
Compensation vs Market: Eiji's total compensation ($USD1.24M) is about average for companies of similar size in the JP market ($USD1.52M).
Compensation vs Earnings: Eiji's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 5.58yrs | JP¥128.00m | 0.0070% ¥ 28.3m | |
| Executive VP | 6.58yrs | JP¥106.00m | 0.037% ¥ 150.0m | |
| Exec. Officer | 3.58yrs | no data | 0.0086% ¥ 34.5m | |
| Executive Officer | 2yrs | no data | no data | |
| Executive Officer | no data | no data | no data | |
| General Manager of Corporate Communications & Investor Relations Dept. | no data | no data | no data | |
| Executive Officer & In charge of Group Human Resources Dept. | 2.75yrs | no data | no data | |
| Exec VP | 6.58yrs | no data | 0.025% ¥ 99.8m | |
| Executive Officer | no data | no data | no data | |
| Executive Officer | no data | no data | no data | |
| Executive Officer & In charge of Property Brokerage and CRE Business Unit | no data | no data | no data | |
| Executive Officer | 4.75yrs | no data | no data |
2.8yrs
Average Tenure
61yo
Average Age
Experienced Management: 3231's management team is considered experienced (2.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 5.58yrs | JP¥128.00m | 0.0070% ¥ 28.3m | |
| Executive VP | 6.58yrs | JP¥106.00m | 0.037% ¥ 150.0m | |
| Exec. Officer | 3.58yrs | no data | 0.0086% ¥ 34.5m | |
| Exec VP | 6.58yrs | no data | 0.025% ¥ 99.8m | |
| Corporate Officer | 1yr | no data | no data | |
| Non Executive Chairman of the Board | 3.58yrs | no data | 0.0031% ¥ 12.6m | |
| Independent External Director | 1.58yrs | no data | no data | |
| Non Executive Director | 5.58yrs | no data | 0.027% ¥ 106.6m | |
| Independent External Director | 6.58yrs | no data | no data | |
| Independent External Director | no data | no data | no data | |
| Non Executive Director | 1.58yrs | no data | no data | |
| Independent External Director | 1.58yrs | no data | no data |
3.6yrs
Average Tenure
62yo
Average Age
Experienced Board: 3231's board of directors are considered experienced (3.6 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
Nomura Real Estate Holdings, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Nomura Real Estate Holdings, Inc.
- Ticker: 3231
- Exchange: TSE
- Founded: 2004
- Industry: Diversified Real Estate Activities
- Sector: Real Estate
- Market Cap: JP¥401.816b
- Shares outstanding: 181.65m
- Website: https://www.nomura-re-hd.co.jp
Number of Employees
Location
- Nomura Real Estate Holdings, Inc.
- Shinjuku Nomura Building
- 1-26-2 Nishi-Shinjuku
- Tokyo
- 163-0566
- Japan
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 3231 | TSE (The Tokyo Stock Exchange) | Yes | Common Stock | JP | JPY | Oct 2006 |
| N9U | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Oct 2006 |
| NMEH.F | OTCPK (Pink Sheets LLC) | Yes | Common Stock | US | USD | Oct 2006 |
Biography
Nomura Real Estate Holdings, Inc. operates as a real estate company in Japan and internationally. The company develops, leases, and manages office buildings, commercial facilities, logistics facilities, an...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/22 08:13 |
| End of Day Share Price | 2021/01/22 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2020/03/31 |
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.