Y.A.C. Holdings (TSE:6298) - Share price, News & Analysis

6298 fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	4/6
Past Performance	4/6
Financial Health	4/6
Dividends	4/6

6298 Stock Overview

Y.A.C. Holdings Co., Ltd. engages in semiconductor business in Japan.

Rewards

Trading at 49.6% below our estimate of its fair value

Earnings are forecast to grow 21.13% per year

Earnings grew by 228.5% over the past year

Risk Analysis

Highly volatile share price over the past 3 months

Unstable dividend track record

Y.A.C. Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Y.A.C. Holdings
Historical stock prices
Current Share Price	JP¥1,745.00
52 Week High	JP¥1,908.00
52 Week Low	JP¥787.00
Beta	2.06
1 Month Change	9.68%
3 Month Change	60.68%
1 Year Change	81.58%
3 Year Change	125.45%
5 Year Change	11.15%
Change since IPO	-55.15%

Shareholder Returns

	6298	JP Semiconductor	JP Market
7D	17.5%	1.8%	-0.7%
1Y	81.6%	13.6%	-4.2%

Return vs Industry: 6298 exceeded the JP Semiconductor industry which returned 13.6% over the past year.

Return vs Market: 6298 exceeded the JP Market which returned -4.2% over the past year.

Price Volatility

Is 6298's price volatile compared to industry and market?
6298 volatility
6298 Average Weekly Movement	10.4%
Semiconductor Industry Average Movement	6.7%
Market Average Movement	4.6%
10% most volatile stocks in JP Market	9.2%
10% least volatile stocks in JP Market	2.5%

Stable Share Price: 6298 is more volatile than 90% of JP stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: 6298's weekly volatility (10%) has been stable over the past year, but is still higher than 75% of JP stocks.

About the Company

Founded	Employees	CEO	Website
1973	872	Takefumi Momose	https://www.yac.co.jp

Y.A.C. Holdings Co., Ltd. engages in semiconductor business in Japan. The company produces and sells liquid crystal and semiconductor-related products, including dry etching, and barrel plasma ashing. It also manufactures and sells hard disk related manufacturing equipment, such as burnishers, UV curing machines, hard disk conveyors, automatic machines, conveyor systems for semiconductors, conveyor/handling/automatic machines, factory automation equipment, handlers, solar water and cell manufacturing tools, and research and development tools, as well as laser and Ion beam machines; and cleaning machines consisting of shirt finishing systems, wool and uniform finishers, tumblers, bagging systems, sorters, and apparel equipment for clothing.

Y.A.C. Holdings Fundamentals Summary

How do Y.A.C. Holdings's earnings and revenue compare to its market cap?
6298 fundamental statistics
Market Cap	JP¥15.93b
Earnings (TTM)	JP¥1.11b
Revenue (TTM)	JP¥22.80b

14.4x

P/E Ratio

0.7x

P/S Ratio

Is 6298 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
6298 income statement (TTM)
Revenue	JP¥22.80b
Cost of Revenue	JP¥16.66b
Gross Profit	JP¥6.13b
Other Expenses	JP¥5.03b
Earnings	JP¥1.11b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	121.25
Gross Margin	26.90%
Net Profit Margin	4.86%
Debt/Equity Ratio	86.4%

How did 6298 perform over the long term?

See historical performance and comparison

Dividends

2.8%

Current Dividend Yield

18%

Payout Ratio

Valuation

Is Y.A.C. Holdings undervalued compared to its fair value and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

49.6%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: 6298 (¥1745) is trading below our estimate of fair value (¥3461.3)

Significantly Below Fair Value: 6298 is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: 6298 is poor value based on its PE Ratio (14.4x) compared to the JP Semiconductor industry average (11.9x).

PE vs Market: 6298 is poor value based on its PE Ratio (14.4x) compared to the JP market (12.2x).

Price to Earnings Growth Ratio

PEG Ratio: 6298 is good value based on its PEG Ratio (0.7x)

Price to Book Ratio

PB vs Industry: 6298 is good value based on its PB Ratio (1x) compared to the JP Semiconductor industry average (1.5x).

Future Growth

How is Y.A.C. Holdings forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

4/6

Future Growth Score 4/6

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

21.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6298's forecast earnings growth (21.1% per year) is above the savings rate (0.02%).

Earnings vs Market: 6298's earnings (21.1% per year) are forecast to grow faster than the JP market (8.7% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 6298's revenue (17% per year) is forecast to grow faster than the JP market (4% per year).

High Growth Revenue: 6298's revenue (17% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if 6298's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Y.A.C. Holdings performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

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

-7.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 6298 has high quality earnings.

Growing Profit Margin: 6298's current net profit margins (4.9%) are higher than last year (1.4%).

Past Earnings Growth Analysis

Earnings Trend: 6298's earnings have declined by 7.6% per year over the past 5 years.

Accelerating Growth: 6298's earnings growth over the past year (228.5%) exceeds its 5-year average (-7.6% per year).

Earnings vs Industry: 6298 earnings growth over the past year (228.5%) exceeded the Semiconductor industry 100.7%.

Return on Equity

High ROE: 6298's Return on Equity (7.2%) is considered low.

Financial Health

How is Y.A.C. Holdings'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: 6298's short term assets (¥28.9B) exceed its short term liabilities (¥13.8B).

Long Term Liabilities: 6298's short term assets (¥28.9B) exceed its long term liabilities (¥7.8B).

Debt to Equity History and Analysis

Debt Level: 6298's net debt to equity ratio (29.6%) is considered satisfactory.

Reducing Debt: 6298's debt to equity ratio has increased from 70.2% to 86.4% over the past 5 years.

Debt Coverage: 6298's debt is not well covered by operating cash flow (18.9%).

Interest Coverage: 6298's interest payments on its debt are well covered by EBIT (35.6x coverage).

Balance Sheet

Dividend

What is Y.A.C. Holdings's 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
Future Dividend Coverage

2.75%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 6298's dividend (2.75%) is higher than the bottom 25% of dividend payers in the JP market (1.65%).

High Dividend: 6298's dividend (2.75%) is low compared to the top 25% of dividend payers in the JP market (3.69%).

Stability and Growth of Payments

Stable Dividend: 6298's dividend payments have been volatile in the past 10 years.

Growing Dividend: 6298's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (18.1%), 6298's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (20.4%), 6298's dividend payments are well covered by cash flows.

Discover strong dividend paying companies

Management

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

1.6yrs

Average management tenure

CEO

Takefumi Momose (84 yo)

49yrs

Tenure

JP¥131,000,000

Compensation

Mr. Takefumi Momose has been the President of Y.A.C. Holdings Co., Ltd. (formerly known as Y.A.C.Co., Ltd.) since May 1973 and serves as its Chief Executive Officer and also serves as its Senior General M...

CEO Compensation Analysis

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

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

Leadership Team

Experienced Management: 6298's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.

Board Members

Experienced Board: 6298's board of directors are considered experienced (5.8 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	2022/05/20 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2022/03/31
Annual Earnings	2022/03/31