Executive Summary
Kyocera Corporation develops, produces, and distributes ceramic and electronic components, and telecommunications and information equipment worldwide.
Rewards
Risk Analysis
Snowflake Analysis
Flawless balance sheet with proven track record.
Similar Companies
Share Price & News
How has Kyocera's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 6971's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-5.4%
6971
-3.3%
JP Electronic
-4.6%
JP Market
1 Year Return
-12.5%
6971
-10.7%
JP Electronic
-15.7%
JP Market
Return vs Industry: 6971 underperformed the JP Electronic industry which returned -6.2% over the past year.
Return vs Market: 6971 exceeded the JP Market which returned -12.1% over the past year.
Shareholder returns
| 6971 | Industry | Market | |
|---|---|---|---|
| 7 Day | -5.4% | -3.3% | -4.6% |
| 30 Day | -11.3% | -9.5% | -11.2% |
| 90 Day | -20.9% | -22.0% | -21.0% |
| 1 Year | -10.4%-12.5% | -9.2%-10.7% | -13.5%-15.7% |
| 3 Year | 4.7%-1.9% | 16.5%11.1% | -2.3%-9.2% |
| 5 Year | -6.0%-15.3% | 17.5%8.0% | -1.1%-11.8% |
Price Volatility Vs. Market
How volatile is Kyocera's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Kyocera undervalued compared to its fair value and its price relative to the market?
12.7%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 6971 (¥6098) is trading below our estimate of fair value (¥6778.93)
Significantly Below Fair Value: 6971 is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: 6971 is poor value based on its PE Ratio (17.7x) compared to the Electronic industry average (12.8x).
PE vs Market: 6971 is poor value based on its PE Ratio (17.7x) compared to the JP market (12.3x).
Price to Earnings Growth Ratio
PEG Ratio: 6971 is poor value based on its PEG Ratio (1.5x)
Price to Book Ratio
PB vs Industry: 6971 is overvalued based on its PB Ratio (0.9x) compared to the JP Electronic industry average (0.7x).
Next Steps
Future Growth
How is Kyocera forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?
12.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 6971's forecast earnings growth (12.1% per year) is above the savings rate (-0.09%).
Earnings vs Market: 6971's earnings (12.1% per year) are forecast to grow faster than the JP market (9.2% per year).
High Growth Earnings: 6971's earnings are forecast to grow, but not significantly.
Revenue vs Market: 6971's revenue (4.3% per year) is forecast to grow faster than the JP market (3.3% per year).
High Growth Revenue: 6971'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: 6971's Return on Equity is forecast to be low in 3 years time (7.6%).
Next Steps
Past Performance
How has Kyocera performed over the past 5 years?
-3.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 6971 has high quality earnings.
Growing Profit Margin: 6971's current net profit margins (7.8%) are higher than last year (4.3%).
Past Earnings Growth Analysis
Earnings Trend: 6971's earnings have declined by -3.2% per year over the past 5 years.
Accelerating Growth: 6971's earnings growth over the past year (76.4%) exceeds its 5-year average (-3.2% per year).
Earnings vs Industry: 6971 earnings growth over the past year (76.4%) exceeded the Electronic industry -9.8%.
Return on Equity
High ROE: 6971's Return on Equity (5.1%) is considered low.
Next Steps
Financial Health
How is Kyocera's financial position?
Financial Position Analysis
Short Term Liabilities: 6971's short term assets (¥1,253.9B) exceed its short term liabilities (¥360.3B).
Long Term Liabilities: 6971's short term assets (¥1,253.9B) exceed its long term liabilities (¥354.8B).
Debt to Equity History and Analysis
Debt Level: 6971 is debt free.
Reducing Debt: 6971 has no debt compared to 5 years ago when its debt to equity ratio was 1.6%.
Debt Coverage: 6971 has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: 6971 has no debt, therefore coverage of interest payments is not a concern.
Balance Sheet
Inventory Level: 6971 has a high level of physical assets or inventory.
Debt Coverage by Assets: Insufficient data to determine if 6971's debt is covered by short term assets.
Next Steps
Dividend
What is Kyocera's current dividend yield, its reliability and sustainability?
2.70%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 6971's dividend (2.62%) is higher than the bottom 25% of dividend payers in the JP market (1.69%).
High Dividend: 6971's dividend (2.62%) is low compared to the top 25% of dividend payers in the JP market (3.87%).
Stability and Growth of Payments
Stable Dividend: 6971's dividend payments have been volatile in the past 10 years.
Growing Dividend: 6971's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (40.5%), 6971'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?
7.0yrs
Average management tenure
CEO
Hideo Tanimoto (59yo)
3.17s
Tenure
JP¥132,000,000
Compensation
Mr. Hideo Tanimoto has been the President of Kyocera Corporation since February 2017 and is its Executive Officer. Mr. Tanimoto served as the General Manager of Corporate Fine Ceramics Group at Kyocera Cor ...
CEO Compensation Analysis
Compensation vs Market: Hideo's total compensation ($USD0.00) is below average for companies of similar size in the JP market ($USD1.82M).
Compensation vs Earnings: Insufficient data to compare Hideo's compensation with company performance.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President & Representative Director | 3.17yrs | JP¥132.00m | 0.0018% ¥39.0m | |
| Founder & Chairman Emeritus | no data | no data | 2.82% ¥60.4b | |
| Managing Exec. Officer | 2.25yrs | no data | 0.00094% ¥20.2m | |
| Managing Exec. Officer | 4.25yrs | no data | 0.0011% ¥24.2m | |
| Managing Exec. Officer | 2.83yrs | no data | 0.0018% ¥39.0m | |
| Managing Exec. Officer | 10.83yrs | no data | 0.0031% ¥66.2m | |
| Senior Executive Officer & GM of Corporate Purchasing Group | no data | no data | no data | |
| Sr. Managing Exec. Officer | 6.83yrs | no data | 0.0015% ¥33.2m | |
| Senior Managing Exec. Officer | 6.83yrs | no data | 0.0026% ¥56.2m | |
| Senior Executive Officer and GM of Corporate R&D Group | 7yrs | no data | no data |
7.0yrs
Average Tenure
59.5yo
Average Age
Experienced Management: 6971's management team is seasoned and experienced (7 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President & Representative Director | 3.17yrs | JP¥132.00m | 0.0018% ¥39.0m | |
| Founder & Chairman Emeritus | no data | no data | 2.82% ¥60.4b | |
| Managing Exec. Officer | 2.25yrs | no data | 0.00094% ¥20.2m | |
| Managing Exec. Officer | 4.25yrs | no data | 0.0011% ¥24.2m | |
| Managing Exec. Officer | 2.83yrs | no data | 0.0018% ¥39.0m | |
| Managing Exec. Officer | 10.83yrs | no data | 0.0031% ¥66.2m | |
| Sr. Managing Exec. Officer | 6.83yrs | no data | 0.0015% ¥33.2m | |
| Senior Managing Exec. Officer | 6.83yrs | no data | 0.0026% ¥56.2m | |
| Managing Exec. Officer | 2.83yrs | no data | 0.0012% ¥25.9m | |
| Chairman of the Board | 3yrs | JP¥121.00m | 0.0077% ¥166.1m |
3.8yrs
Average Tenure
60.5yo
Average Age
Experienced Board: 6971's board of directors are considered experienced (3.8 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.
Top Shareholders
Company Information
Kyocera Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Kyocera Corporation
- Ticker: 6971
- Exchange: TSE
- Founded: 1959
- Industry: Electronic Components
- Sector: Tech
- Market Cap: JP¥2.144t
- Shares outstanding: 362.43m
- Website: https://global.kyocera.com
Number of Employees
Location
- Kyocera Corporation
- 6, Takeda Tobadono-cho
- Fushimi-ku
- Kyoto
- 612-8501
- Japan
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| KYOC.Y | OTCPK (Pink Sheets LLC) | ADR-EACH CNV TO 1 ORD NPV | US | USD | Feb 1976 | |
| KYRA | DB (Deutsche Boerse AG) | ADR-EACH CNV TO 1 ORD NPV | DE | EUR | Feb 1976 | |
| 6971 | TSE (The Tokyo Stock Exchange) | Yes | Common Stock | JP | JPY | Jan 1980 |
| KYOC.F | OTCPK (Pink Sheets LLC) | Yes | Common Stock | US | USD | Jan 1980 |
| KYR | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Jan 1980 |
Biography
Kyocera Corporation develops, produces, and distributes ceramic and electronic components, and telecommunications and information equipment worldwide. Its Industrial & Automotive Components Group segment offers fine ceramic components, automotive components, liquid crystal displays, and industrial tools to the industrial machinery, automotive, general industrial, and construction markets. The company’s Semiconductor Components Group segment provides inorganic and organic ceramic packages, and multilayer printing wiring boards for electronic components and devices, such as crystal components, SAW devices, and CMOS/CCD sensors for communication infrastructures and automotive-related markets. Its Electronic Devices Group segment offers electronic components and devices comprising capacitors, crystal devices, connectors, power semiconductor devices, etc., as well as printing devices for the information and communications equipment, industrial equipment, and automotive markets. The company’s Communications Group segment provides smartphones, mobile phones, and communication modules for the Internet of Things market; and information systems, telecommunication, and engineering services. Its Document Solutions Group offers printers, multifunctional products, document solutions, and supplies; and enterprise contents management and business process outsourcing services. The company’s Life & Environment Group segment provides solar modules for commercial and residential uses; solar energy products, including storage batteries and energy management systems; medical devices, such as prosthetic joints and dental prosthetics; jewellery; and kitchen accessories, including ceramic knives. It offers its products through sales personnel, sales companies, and third-party distributors. The company was formerly known as Kyoto Ceramic Kabushiki Kaisha and changed its name to Kyocera Corporation in 1982. Kyocera Corporation was founded in 1959 and is headquartered in Kyoto, Japan.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/02 15:26 |
| End of Day Share Price | 2020/04/02 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/03/31 |
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.