TSE:3231

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Nomura Real Estate Holdings

Executive Summary

Nomura Real Estate Holdings, Inc. operates as a real estate company in Japan and internationally. More Details


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

3231IndustryMarket
7 Day-0.04%-1.6%-0.5%
30 Day1.7%0.8%5.5%
90 Day12.4%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 Year26.5%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%).


Next Steps

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.


Next Steps

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


Next Steps

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.


Next Steps

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

NamePositionTenureCompensationOwnership
Eiji Kutsukake
President5.58yrsJP¥128.00m0.0070%
¥ 28.3m
Seiichi Miyajima
Executive VP6.58yrsJP¥106.00m0.037%
¥ 150.0m
Makoto Haga
Exec. Officer3.58yrsno data0.0086%
¥ 34.5m
Toshihide Tsukasaki
Executive Officer2yrsno datano data
Yukio Ichihara
Executive Officerno datano datano data
Daisuke Kitai
General Manager of Corporate Communications & Investor Relations Dept.no datano datano data
Yoichiro Ishikawa
Executive Officer & In charge of Group Human Resources Dept.2.75yrsno datano data
Toshiaki Seki
Exec VP6.58yrsno data0.025%
¥ 99.8m
Takashi Kaku
Executive Officerno datano datano data
Shigeyuki Yamamoto
Executive Officerno datano datano data
Juntaro Kimura
Executive Officer & In charge of Property Brokerage and CRE Business Unitno datano datano data
Akihiro Fukuda
Executive Officer4.75yrsno datano data

2.8yrs

Average Tenure

61yo

Average Age

Experienced Management: 3231's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Eiji Kutsukake
President5.58yrsJP¥128.00m0.0070%
¥ 28.3m
Seiichi Miyajima
Executive VP6.58yrsJP¥106.00m0.037%
¥ 150.0m
Makoto Haga
Exec. Officer3.58yrsno data0.0086%
¥ 34.5m
Toshiaki Seki
Exec VP6.58yrsno data0.025%
¥ 99.8m
Masato Yamauchi
Corporate Officer1yrno datano data
Atsushi Yoshikawa
Non Executive Chairman of the Board3.58yrsno data0.0031%
¥ 12.6m
Yoshio Mogi
Independent External Director1.58yrsno datano data
Takao Orihara
Non Executive Director5.58yrsno data0.027%
¥ 106.6m
Satoko Shinohara
Independent External Director6.58yrsno datano data
Akira Ono
Independent External Directorno datano datano data
Yasushi Takayama
Non Executive Director1.58yrsno datano data
Akiko Miyakawa
Independent External Director1.58yrsno datano 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
3231TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYOct 2006
N9UDB (Deutsche Boerse AG)YesCommon StockDEEUROct 2006
NMEH.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDOct 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/22 08:13
End of Day Share Price2021/01/22 00:00
Earnings2020/09/30
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.