OTCPK:TDHO.Y

Stock Analysis Report

Executive Summary

T&D Holdings, Inc., through its subsidiaries, provides life insurance products and services primarily in Japan.


Snowflake Analysis

Undervalued average dividend payer.


Similar Companies

Share Price & News

How has T&D Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

0.5%

TDHO.Y

9.6%

US Insurance

5.3%

US Market


1 Year Return

-26.4%

TDHO.Y

-18.1%

US Insurance

-10.7%

US Market

Return vs Industry: TDHO.Y underperformed the US Insurance industry which returned -17.3% over the past year.

Return vs Market: TDHO.Y underperformed the US Market which returned -10.4% over the past year.


Shareholder returns

TDHO.YIndustryMarket
7 Day0.5%9.6%5.3%
30 Day-18.0%-19.5%-13.6%
90 Day-38.2%-27.0%-19.8%
1 Year-25.4%-26.4%-16.1%-18.1%-8.9%-10.7%
3 Year-43.9%-44.6%-4.1%-11.6%15.5%8.0%
5 Year-43.6%-44.3%21.2%6.4%35.2%20.4%

Price Volatility Vs. Market

How volatile is T&D Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is T&D Holdings undervalued compared to its fair value and its price relative to the market?

49.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TDHO.Y ($4.09) is trading below our estimate of fair value ($8.01)

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


Price To Earnings Ratio

PE vs Industry: TDHO.Y is good value based on its PE Ratio (8.7x) compared to the Insurance industry average (9.1x).

PE vs Market: TDHO.Y is good value based on its PE Ratio (8.7x) compared to the US market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: TDHO.Y is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: TDHO.Y is good value based on its PB Ratio (0.4x) compared to the US Insurance industry average (0.8x).


Next Steps

Future Growth

How is T&D Holdings forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

6.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TDHO.Y's forecast earnings growth (6.8% per year) is above the savings rate (1.7%).

Earnings vs Market: TDHO.Y's earnings (6.8% per year) are forecast to grow slower than the US market (12.2% per year).

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

Revenue vs Market: TDHO.Y's revenue (0.1% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: TDHO.Y's revenue (0.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TDHO.Y's Return on Equity is forecast to be low in 3 years time (6.2%).


Next Steps

Past Performance

How has T&D Holdings performed over the past 5 years?

-5.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TDHO.Y has a large one-off loss of ¥23.4B impacting its December 31 2019 financial results.

Growing Profit Margin: TDHO.Y's current net profit margins (2.9%) are lower than last year (3.9%).


Past Earnings Growth Analysis

Earnings Trend: TDHO.Y's earnings have declined by -5.6% per year over the past 5 years.

Accelerating Growth: TDHO.Y's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TDHO.Y had negative earnings growth (-22.8%) over the past year, making it difficult to compare to the Insurance industry average (43.7%).


Return on Equity

High ROE: TDHO.Y's Return on Equity (4.9%) is considered low.


Next Steps

Financial Health

How is T&D Holdings's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: TDHO.Y has a low level of unsold assets or inventory.

Debt Coverage by Assets: TDHO.Y's debt is covered by short term assets (assets are 14.4x debt).


Financial Institutions Analysis

Asset Level: TDHO.Y's level of assets compared to its equity is moderate.

Allowance for Bad Loans: Insufficient data to determine if TDHO.Y has a sufficient allowance for bad loans.

Low Risk Liabilities: TDHO.Y reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if TDHO.Y has an acceptable proportion of non-loan assets held.

Low Risk Deposits: TDHO.Y has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if TDHO.Y has an appropriate level of bad loans.


Next Steps

Dividend

What is T&D Holdings's current dividend yield, its reliability and sustainability?

4.98%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TDHO.Y's dividend (4.94%) is higher than the bottom 25% of dividend payers in the US market (1.95%).

High Dividend: TDHO.Y's dividend (4.94%) is low compared to the top 25% of dividend payers in the US market (5.4%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (42.8%), TDHO.Y'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?

2.4yrs

Average management tenure


CEO

Hirohisa Uehara (57yo)

1.92s

Tenure

Mr. Hirohisa Uehara has been the President and Chief Executive Officer of T&D Holdings, Inc. since April 1, 2018. Mr. Uehara has operational experience within T&D Group including investment and sales. In a ...


Leadership Team

NamePositionTenureCompensationOwnership
Hirohisa Uehara
President1.92yrsno data0.0034% ¥166.1k
Chikahiro Tsuboi
Senior Managing Executive Officer2.92yrsno datano data
Koiyoshi Seiya
Senior Managing Executive Officer & Director5.75yrsno data0.0040% ¥195.2k
Yoshihisa Tanaka
Managing Executive Officer & Director0.75yrno data0.00072% ¥35.5k
Mutsurou Kitahara
Senior Managing Executive Officer2.92yrsno datano data
Mitsuhiro Nagata
Senior Managing Executive Officer & Director1.75yrsno data0.0028% ¥137.0k
Yasuro Tamura
Managing Executive Officer & Director1.75yrsno data0.00090% ¥44.4k
Hiroshi Fujise
President and Representative Director of T&D Asset Mgmt Co. Ltd.no datano datano data
Masanori Nishida
President and Representative Director of Pet & Family Small-Amount Short-Term Insurance Company no datano datano data

2.4yrs

Average Tenure

57yo

Average Age

Experienced Management: TDHO.Y's management team is considered experienced (2.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Hirohisa Uehara
President1.92yrsno data0.0034% ¥166.1k
Koiyoshi Seiya
Senior Managing Executive Officer & Director5.75yrsno data0.0040% ¥195.2k
Yoshihisa Tanaka
Managing Executive Officer & Director0.75yrno data0.00072% ¥35.5k
Mitsuhiro Nagata
Senior Managing Executive Officer & Director1.75yrsno data0.0028% ¥137.0k
Yasuro Tamura
Managing Executive Officer & Director1.75yrsno data0.00090% ¥44.4k
Hiroshi Fujise
President and Representative Director of T&D Asset Mgmt Co. Ltd.no datano datano data
Masanori Nishida
President and Representative Director of Pet & Family Small-Amount Short-Term Insurance Company no datano datano data
Tetsuhiro Kida
Chairman of the Board1.92yrsno data0.0047% ¥230.2k
Haruka Matsuyama
Outside Director6.75yrsno datano data
Minoru Kudo
Director4.75yrsno data0.0072% ¥352.4k

2.3yrs

Average Tenure

57yo

Average Age

Experienced Board: TDHO.Y's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


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

T&D Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: T&D Holdings, Inc.
  • Ticker: TDHO.Y
  • Exchange: OTCPK
  • Founded: 2004
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: JP¥530.297b
  • Listing Market Cap: JP¥4.928b
  • Shares outstanding: 599.88m
  • Website: https://www.td-holdings.co.jp

Number of Employees


Location

  • T&D Holdings, Inc.
  • 2-7-1, Nihonbashi
  • Chuo-ku
  • Tokyo
  • 103-6031
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TDHO.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDApr 2004
TZ6DB (Deutsche Boerse AG)YesCommon StockDEEURApr 2004
8795TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYApr 2004
TZ6BST (Boerse-Stuttgart)YesCommon StockDEEURApr 2004
TDHO.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDOct 2008

Biography

T&D Holdings, Inc., through its subsidiaries, provides life insurance products and services primarily in Japan. It offers comprehensive coverage, including death benefit and medical/nursing care products through in-house sales representatives for household customers; term life insurance, disability insurance, etc. through in-house sales representatives and agents for small and medium enterprises; and savings and protection type products through financial institutions and insurance shops for independent insurance agent market, as well as compensation insurance for pet veterinary care expenses through pet shops, etc. to pets market. The company also provides investment products through sales companies, such as securities firms, etc.; and investment advisory services to domestic and international pension funds and institutional investors. In addition, it offers leasing and credit guarantee services; life insurance policy clerical services, including drafting, amendment, custody and distribution of documents, and delivery of securities; computer software and system services; and designing and developing information technology systems, software solutions, and business solutions for the insurance industry. The company was founded in 2004 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 Analysis2020/04/01 00:57
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


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.