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Japan Rental Housing Investments

OTCPK:JRHI.F
Snowflake Description

Second-rate dividend payer and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JRHI.F
OTCPK
¥142B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Japan Rental Housing Investments, Inc. (“the Investment Corporation”) primarily invests in specified assets such as real estate that are used for residential purposes (rental apartments) which are located nationwide (residential REIT), with a focus on properties located in the 23 wards of Tokyo and the three major metropolitan areas of Japan. The last earnings update was 74 days ago. More info.


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JRHI.F Share Price and Events
7 Day Returns
0%
OTCPK:JRHI.F
0.5%
US REITs
1.4%
US Market
1 Year Returns
-
OTCPK:JRHI.F
15.2%
US REITs
2.3%
US Market
JRHI.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Japan Rental Housing Investments (JRHI.F) 0% 0% 0% - - -
US REITs 0.5% 6.3% 5.6% 15.2% 17.2% 26.7%
US Market 1.4% 5.6% 5.7% 2.3% 44.2% 40.9%
1 Year Return vs Industry and Market
  • No trading data on JRHI.F.
  • No trading data on JRHI.F.
Price Volatility
JRHI.F
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Japan Rental Housing Investments's competitors could be found in our database.

JRHI.F Value

 Is Japan Rental Housing Investments undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Japan Rental Housing Investments to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Japan Rental Housing Investments.

OTCPK:JRHI.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:JRHI.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.55
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.554 (1 + (1- 30.86%) (81.33%))
0.865
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.865 * 7.27%)
9.02%

Discounted Cash Flow Calculation for OTCPK:JRHI.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Japan Rental Housing Investments is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:JRHI.F DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (JPY, Millions) 9,623.96 10,227.91 10,869.76 11,551.89 12,276.83
Source Est @ 6.28% Est @ 6.28% Est @ 6.28% Est @ 6.28% Est @ 6.28%
Present Value
Discounted (@ 9.02%)
8,827.93 8,605.91 8,389.48 8,178.49 7,972.81
Present value of next 5 years cash flows ¥41,974.62
OTCPK:JRHI.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= ¥12,276.83 × (1 + 2.73%) ÷ (9.02% – 2.73%)
¥200,598.13
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= ¥200,598.13 ÷ (1 + 9.02%)5
¥130,272.25
OTCPK:JRHI.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= ¥41,974.62 + ¥130,272.25
¥172,246.87
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥172,246.87 / 1.64
¥8.46
OTCPK:JRHI.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:JRHI.F represents 0.00897x of TSE:8986
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00897x
Value per Share
(Listing Adjusted, USD)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 942.44 x 0.00897
$8.46
Value per share (USD) From above. $8.46
Current discount Discount to share price of $778.00
= -1 x ($778.00 - $8.46) / $8.46
-9099.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Japan Rental Housing Investments is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Japan Rental Housing Investments's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Japan Rental Housing Investments's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:JRHI.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in JPY ¥3,824.93
TSE:8986 Share Price ** TSE (2018-11-23) in JPY ¥86700
United States of America REITs Industry PE Ratio Median Figure of 156 Publicly-Listed REITs Companies 31.79x
United States of America Market PE Ratio Median Figure of 3,045 Publicly-Listed Companies 17.39x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Japan Rental Housing Investments.

OTCPK:JRHI.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:8986 Share Price ÷ EPS (both in JPY)

= 86700 ÷ 3,824.93

22.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Japan Rental Housing Investments is good value based on earnings compared to the US REITs industry average.
  • Japan Rental Housing Investments is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Japan Rental Housing Investments's expected growth come at a high price?
Raw Data
OTCPK:JRHI.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.67x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
1.2%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 0.87x
United States of America Market PEG Ratio Median Figure of 2,118 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

OTCPK:JRHI.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 22.67x ÷ 1.2%

18.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Japan Rental Housing Investments is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Japan Rental Housing Investments's assets?
Raw Data
OTCPK:JRHI.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in JPY ¥66,076.30
TSE:8986 Share Price * TSE (2018-11-23) in JPY ¥86700
United States of America REITs Industry PB Ratio Median Figure of 192 Publicly-Listed REITs Companies 1.79x
United States of America Market PB Ratio Median Figure of 5,129 Publicly-Listed Companies 1.87x
OTCPK:JRHI.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:8986 Share Price ÷ Book Value per Share (both in JPY)

= 86700 ÷ 66,076.30

1.31x

* Primary Listing of Japan Rental Housing Investments.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Japan Rental Housing Investments is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Japan Rental Housing Investments's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Japan Rental Housing Investments has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

JRHI.F Future Performance

 How is Japan Rental Housing Investments expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Japan Rental Housing Investments expected to grow at an attractive rate?
  • Japan Rental Housing Investments's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Japan Rental Housing Investments's earnings growth is positive but not above the United States of America market average.
  • Japan Rental Housing Investments's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:JRHI.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:JRHI.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 1.2%
OTCPK:JRHI.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 0.4%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 0.3%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:JRHI.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:JRHI.F Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 16,685 10,158 6,456 1
2020-03-31 16,551 10,075 6,356 1
2019-03-31 16,474 10,001 6,260 1
OTCPK:JRHI.F Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2018-09-30 16,536 10,256 6,273
2018-06-30 16,748 11,015 6,411
2018-03-31 16,959 11,774 6,549
2017-12-31 16,977 12,304 6,483
2017-09-30 16,994 12,833 6,416
2017-06-30 16,723 11,854 6,088
2017-03-31 16,452 10,874 5,760
2016-12-31 16,265 10,056 5,660
2016-09-30 16,078 9,237 5,559
2016-06-30 15,900 10,012 5,554
2016-03-31 15,722 10,787 5,549
2015-12-31 15,376 10,544 5,376

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Japan Rental Housing Investments's earnings are expected to grow by 1.2% yearly, however this is not considered high growth (20% yearly).
  • Japan Rental Housing Investments's revenue is expected to grow by 0.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:JRHI.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Japan Rental Housing Investments Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:JRHI.F Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 3,937.00 3,937.00 3,937.00 1.00
2020-03-31 3,876.00 3,876.00 3,876.00 1.00
2019-03-31 3,817.00 3,817.00 3,817.00 1.00
OTCPK:JRHI.F Past Financials Data
Date (Data in JPY Millions) EPS *
2018-09-30 3,824.93
2018-06-30 3,909.26
2018-03-31 3,993.30
2017-12-31 3,952.85
2017-09-30 3,912.10
2017-06-30 3,712.09
2017-03-31 3,512.09
2016-12-31 3,450.93
2016-09-30 3,389.78
2016-06-30 3,412.76
2016-03-31 3,436.10
2015-12-31 3,416.18

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Japan Rental Housing Investments will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Japan Rental Housing Investments's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Japan Rental Housing Investments has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

JRHI.F Past Performance

  How has Japan Rental Housing Investments performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Japan Rental Housing Investments's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Japan Rental Housing Investments's year on year earnings growth rate has been positive over the past 5 years.
  • Japan Rental Housing Investments's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Japan Rental Housing Investments's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Japan Rental Housing Investments's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Japan Rental Housing Investments Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:JRHI.F Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 16,535.65 6,273.11 555.52
2018-06-30 16,748.02 6,411.43 550.81
2018-03-31 16,959.48 6,549.24 354.08
2017-12-31 16,977.19 6,482.91 543.28
2017-09-30 16,993.99 6,416.08 540.44
2017-06-30 16,723.16 6,088.05 540.88
2017-03-31 16,452.33 5,760.03 541.31
2016-12-31 16,264.94 5,659.74 548.80
2016-09-30 16,077.55 5,559.45 556.29
2016-06-30 15,899.80 5,554.05 543.85
2016-03-31 15,722.05 5,548.66 531.41
2015-12-31 15,375.82 5,375.58 520.18
2015-09-30 15,029.59 5,202.51 508.94
2015-03-31 14,502.00 4,956.00 144.00
2014-12-31 13,977.80 5,005.25 311.88
2014-09-30 13,573.34 4,936.41 302.91
2014-03-31 12,884.00 4,680.00 138.00
2013-09-30 11,864.00 3,914.00 130.00
2013-03-31 11,830.00 3,884.00 134.00
2012-09-30 11,555.89 2,459.88 302.09
2012-03-31 11,526.00 2,010.00 140.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Japan Rental Housing Investments has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Japan Rental Housing Investments used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Japan Rental Housing Investments has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Japan Rental Housing Investments's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Japan Rental Housing Investments has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

JRHI.F Health

 How is Japan Rental Housing Investments's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Japan Rental Housing Investments's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Japan Rental Housing Investments's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Japan Rental Housing Investments's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Japan Rental Housing Investments's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Japan Rental Housing Investments Company Filings, last reported 4 months ago.

OTCPK:JRHI.F Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 108,369.10 115,639.23 8,548.71
2018-06-30 108,369.10 115,639.23 8,548.71
2018-03-31 108,436.00 115,587.00 7,549.00
2017-12-31 108,332.24 120,348.54 10,867.85
2017-09-30 108,332.24 120,348.54 10,867.85
2017-06-30 108,332.24 120,348.54 10,867.85
2017-03-31 107,962.34 117,419.36 9,006.69
2016-12-31 107,962.34 117,419.36 9,006.69
2016-09-30 107,487.20 117,657.78 11,121.95
2016-06-30 107,487.20 117,657.78 11,121.95
2016-03-31 107,427.00 117,910.72 9,924.51
2015-12-31 107,427.00 117,910.72 9,924.51
2015-09-30 107,748.39 109,630.26 10,835.02
2015-03-31 95,410.00 106,038.00 7,416.00
2014-12-31
2014-09-30 95,511.00 99,038.00 7,512.00
2014-03-31 95,458.00 92,789.00 7,339.00
2013-09-30 86,298.00 75,942.00 7,809.00
2013-03-31 86,151.00 75,942.00 7,274.00
2012-09-30 86,084.00 76,136.00 5,909.00
2012-03-31 86,311.00 74,341.00 6,647.00
  • Japan Rental Housing Investments's level of debt (106.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (88.1% vs 106.7% today).
  • Debt is not well covered by operating cash flow (8.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.2x coverage).
X
Financial health checks
We assess Japan Rental Housing Investments's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Japan Rental Housing Investments has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

JRHI.F Dividends

 What is Japan Rental Housing Investments's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.5%
Current annual income from Japan Rental Housing Investments dividends. Estimated to be 4.6% next year.
If you bought $2,000 of Japan Rental Housing Investments shares you are expected to receive $90 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Japan Rental Housing Investments's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Japan Rental Housing Investments's dividend is above the markets top 25% of dividend payers in United States of America (3.54%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:JRHI.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 185 Stocks 4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2001 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:JRHI.F Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 4,018.00 1.00
2020-03-31 4,004.00 1.00
2019-03-31 3,947.00 1.00
OTCPK:JRHI.F Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2018-12-10 3,900.000 4.608
2018-11-15 3,900.000 4.448
2018-06-12 3,890.000 4.350
2017-12-11 3,805.000 4.548
2017-11-15 3,805.000 4.678
2017-05-15 3,680.000 4.538
2016-12-12 3,540.000 4.374
2016-11-15 3,540.000 4.469
2016-06-10 3,400.000 4.091
2015-11-26 3,400.000 4.072
2015-11-13 3,400.000 4.155
2015-05-08 3,400.000 4.239
2014-05-09 3,202.000 4.052
2013-11-08 3,160.000 4.952
2012-11-16 2,650.000 3.997
2012-05-16 2,483.000 6.114
2011-12-20 2,176.000 6.065
2010-12-24 1,271.500 3.806
2010-11-25 1,271.500 3.910
2010-06-28 727.500 2.565
2009-12-24 1,435.000 4.573
2009-05-25 2,263.500 8.168
2009-02-23 5,091.000 32.306

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Japan Rental Housing Investments's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Japan Rental Housing Investments's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Japan Rental Housing Investments afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Japan Rental Housing Investments has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

JRHI.F Management

 What is the CEO of Japan Rental Housing Investments's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Yutaka Higashino
AGE 65
TENURE AS CEO 2.1 years
CEO Bio

Mr. Yutaka Higashino serves as the Chief Executive Officer and President at Mi-Casa Asset Management Inc., the Asset Manager for Japan Rental Housing Investments Inc. Mr. Higashino joined Mi-Casa Asset Management Inc. in August 2009. He served as an Executive Director at Japan Rental Housing Investments Inc. since May 20, 2012 until May 20, 2016. Previously in July 2007, he Joined Morgan Stanley Japan Securities Co., Ltd. as an Executive Director of Real Estate Investment Banking Division (Seconded to MS Real Estate Advisors Co., Ltd. by Morgan Stanley as Chief Executive Officer and President. Mr. Higashino has been a General Manager of Real Estate Investment Banking Department at Joined Orix Real Estate Corporation in July 2006. In March 2006, he was assigned as Deputy Director-General of The Bank of Tokyo-Mitsubishi UFJ, Ltd. He had seconded to Deputy General Manager of Finance Department at NTN Corporation (by UFJ Bank) in July 2005. He also seconded to General Manager of Corporate Planning Department at Daikyo Incorporated (by Sanwa Bank) in January 2002. He served as General Manager of Structured Finance Department at Sanwa Bank, Limited (currently, The Bank of Tokyo-Mitsubishi UFJ, Ltd.) in February 2000, which he joined in April 1976. Mr. Higashino also served as General Manager of Higashi-Ebisu branch of Sanwa Bank in October 1997 and Deputy General Manager of New York branch in August 1993.

CEO Compensation
  • Insufficient data for Yutaka to compare compensation growth.
  • Insufficient data for Yutaka to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Japan Rental Housing Investments management team in years:

0.8
Average Tenure
  • The average tenure for the Japan Rental Housing Investments management team is less than 2 years, this suggests a new team.
Management Team

Yutaka Higashino

TITLE
CEO & President of Mi-Casa Asset Management Inc
AGE
65
TENURE
2.1 yrs

Seiji Kimoto

TITLE
CFO, Executive Officer & GM of Business Mgmt Dept for Mi-Casa Asset Management Inc
TENURE
0.8 yrs

Koji Watanabe

TITLE
Managing Director of Mi-Casa Asset Management Inc.
TENURE
0.8 yrs

Ikuo Syouda

TITLE
Executive Director
AGE
63

Ikuo Shoda

TITLE
Executive Director
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the Japan Rental Housing Investments board of directors in years:

1.8
Average Tenure
63
Average Age
  • The average tenure for the Japan Rental Housing Investments board of directors is less than 3 years, this suggests a new board.
Board of Directors

Yutaka Higashino

TITLE
CEO & President of Mi-Casa Asset Management Inc
AGE
65
TENURE
2.8 yrs

Ikuo Syouda

TITLE
Executive Director
AGE
63
TENURE
0.8 yrs

Ikuo Shoda

TITLE
Executive Director
TENURE
0.8 yrs

Kouhei Yabuta

TITLE
Supervisory Director
AGE
57
TENURE
13.1 yrs

Jun Nagamine

TITLE
Supervisory Director
AGE
61
TENURE
10.1 yrs

Masaki Yamane

TITLE
Substitute Executive Director
AGE
64
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Japan Rental Housing Investments's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Japan Rental Housing Investments has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

JRHI.F News

Simply Wall St News

JRHI.F Company Info

Map
Description

Japan Rental Housing Investments, Inc. (“the Investment Corporation”) primarily invests in specified assets such as real estate that are used for residential purposes (rental apartments) which are located nationwide (residential REIT), with a focus on properties located in the 23 wards of Tokyo and the three major metropolitan areas of Japan. The Investment Corporation believes that it is easier to diversify investment areas for rental apartments in comparison to offices and retail facilities, and that residential properties are relatively stable regardless of the upturns and downturns of rent revenue. By investing in residential properties, the Investment Corporation will strive to stabilize portfolio earnings, steadily increase its assets under management and stabilize the earnings for each asset under management over the medium to long-term. Through such activities, the Investment Corporation will strive to realize continued enhancement of unitholder value. The Investment Corporation recognizes that for rental apartments, the use of the property significantly differs depending on the family structure, income and age of the user. Furthermore, it recognizes that the trends in demand varies according to each user type. In view of these observations, we will consider factors such as changes in family structure, changes in each user type’s views towards residences and characteristics of each local area in order to identify the diversifying needs of users. Based on this awareness, we will make investment decisions. As a rule, the Investment Corporation invests in Japanese real estate that are deemed to produce stable earnings from the two categories, namely Studio Type and Family Type, based on the following investment ratios. Through this type of investment, the Investment Corporation will be able to make the best of residential assets based upon diversification of tenant types, and will be able to properly control fluctuation risks in cash flow produced by the portfolio.

Details
Name: Japan Rental Housing Investments Inc.
JRHI.F
Exchange: OTCPK
Founded: 2005
¥1,284,259,411
1,640,060
Website: http://www.jrhi.co.jp
Address: Japan Rental Housing Investments Inc.
Keihanshin Onarimon Building,
9th Floor,
Tokyo,
105-0004,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 8986 Investment Securities The Tokyo Stock Exchange JP JPY 22. Jun 2006
OTCPK JRHI.F Investment Securities Pink Sheets LLC US USD 22. Jun 2006
Number of employees
Current staff
Staff numbers
0
Japan Rental Housing Investments employees.
Industry
Residential REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/21 05:50
End of day share price update: 2018/11/23 00:00
Last estimates confirmation: 2018/12/21
Last earnings filing: 2018/12/09
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.