Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

BELLSYSTEM24 Holdings

DB:B24
Snowflake Description

Undervalued with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
B24
DB
¥77B
Market Cap
  1. Home
  2. DE
  3. Commercial Services
Company description

BELLSYSTEM24 Holdings, Inc. provides outsourcing, technology, and consulting services related to CRM solutions primarily in Japan. The last earnings update was 88 days ago. More info.


Add to Portfolio Compare Print
  • BELLSYSTEM24 Holdings has significant price volatility in the past 3 months.
B24 Share Price and Events
7 Day Returns
-7%
DB:B24
-1.9%
DE Commercial Services
-0.6%
DE Market
1 Year Returns
-26.9%
DB:B24
-32.9%
DE Commercial Services
-20.9%
DE Market
B24 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BELLSYSTEM24 Holdings (B24) -7% -19.4% -38.3% -26.9% 12.4% -
DE Commercial Services -1.9% -23.9% -35.4% -32.9% -36.8% -47.7%
DE Market -0.6% -18.6% -26.2% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • B24 outperformed the Commercial Services industry which returned -32.9% over the past year.
  • B24 underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
B24
Industry
5yr Volatility vs Market

B24 Value

 Is BELLSYSTEM24 Holdings 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 BELLSYSTEM24 Holdings 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

Below are the data sources, inputs and calculation used to determine the intrinsic value for BELLSYSTEM24 Holdings.

DB:B24 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 DB:B24
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.3%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.588 (1 + (1- 30.86%) (91.05%))
0.971
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.971 * 6.33%)
5.76%

Discounted Cash Flow Calculation for DB:B24 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for BELLSYSTEM24 Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:B24 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 5.76%)
2020 8,592.25 Analyst x4 8,124.33
2021 9,884.75 Analyst x4 8,837.45
2022 11,024.50 Analyst x4 9,319.67
2023 11,260.00 Analyst x2 9,000.38
2024 11,965.00 Analyst x2 9,043.07
2025 10,590.00 Analyst x1 7,567.97
2026 10,538.14 Est @ -0.49% 7,120.79
2027 10,489.69 Est @ -0.46% 6,702.05
2028 10,443.65 Est @ -0.44% 6,309.25
2029 10,399.35 Est @ -0.42% 5,940.35
Present value of next 10 years cash flows ¥77,965.00
DB:B24 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥10,399.35 × (1 + -0.39%) ÷ (5.76% – -0.39%)
¥168,449.34
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥168,449.34 ÷ (1 + 5.76%)10
¥96,222.22
DB:B24 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥77,965.00 + ¥96,222.22
¥174,187.22
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥174,187.22 / 73.52
¥2369.35
DB:B24 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:B24 represents 0.00833x of TSE:6183
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00833x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 2,369.35 x 0.00833
€19.74
Value per share (EUR) From above. €19.74
Current discount Discount to share price of €8.70
= -1 x (€8.70 - €19.74) / €19.74
55.9%

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

Current Discount
Amount off the current price BELLSYSTEM24 Holdings is available for.
Intrinsic value
>50%
Share price is €8.7 vs Future cash flow value of €19.74
Current Discount Checks
For BELLSYSTEM24 Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BELLSYSTEM24 Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • BELLSYSTEM24 Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 BELLSYSTEM24 Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BELLSYSTEM24 Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:B24 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-11-30) in JPY ¥85.06
TSE:6183 Share Price ** TSE (2020-04-03) in JPY ¥1044
Germany Commercial Services Industry PE Ratio Median Figure of 6 Publicly-Listed Commercial Services Companies 94.45x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.57x

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

** Primary Listing of BELLSYSTEM24 Holdings.

DB:B24 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:6183 Share Price ÷ EPS (both in JPY)

= 1044 ÷ 85.06

12.27x

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

  • BELLSYSTEM24 Holdings is good value based on earnings compared to the DE Commercial Services industry average.
  • BELLSYSTEM24 Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does BELLSYSTEM24 Holdings's expected growth come at a high price?
Raw Data
DB:B24 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
10%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 48 Publicly-Listed Commercial Services Companies 1.09x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

DB:B24 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.27x ÷ 10%

1.23x

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

  • BELLSYSTEM24 Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on BELLSYSTEM24 Holdings's assets?
Raw Data
DB:B24 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-11-30) in JPY ¥649.50
TSE:6183 Share Price * TSE (2020-04-03) in JPY ¥1044
Germany Commercial Services Industry PB Ratio Median Figure of 9 Publicly-Listed Commercial Services Companies 2.23x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:B24 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:6183 Share Price ÷ Book Value per Share (both in JPY)

= 1044 ÷ 649.50

1.61x

* Primary Listing of BELLSYSTEM24 Holdings.

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

  • BELLSYSTEM24 Holdings is good value based on assets compared to the DE Commercial Services industry average.
X
Value checks
We assess BELLSYSTEM24 Holdings'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. BELLSYSTEM24 Holdings has a total score of 5/6, 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.

B24 Future Performance

 How is BELLSYSTEM24 Holdings expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

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
10%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BELLSYSTEM24 Holdings expected to grow at an attractive rate?
  • BELLSYSTEM24 Holdings's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • BELLSYSTEM24 Holdings's earnings growth is positive but not above the Germany market average.
  • BELLSYSTEM24 Holdings's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:B24 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:B24 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 10%
DB:B24 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 5%
Germany Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 21%
Germany Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 2.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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
DB:B24 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:B24 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2025-02-28 166,270 12,990 11,280 1
2024-02-29 155,223 14,465 10,367 3
2023-02-28 148,043 13,760 9,510 3
2022-02-28 140,892 12,753 8,548 5
2021-02-28 133,892 11,661 7,768 5
2020-04-06
2020-02-29 127,574 10,950 6,996 5
DB:B24 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-11-30 126,503 16,038 6,253
2019-08-31 124,081 13,311 5,843
2019-05-31 121,799 10,466 5,520
2019-02-28 121,113 11,981 5,397
2018-11-30 119,038 10,728 6,088
2018-08-31 118,541 11,238 6,332
2018-05-31 117,211 11,930 6,078
2018-02-28 115,618 8,948 5,604
2017-11-30 114,315 8,478 5,163
2017-08-31 111,795 7,393 4,429
2017-05-31 110,698 7,816 4,190
2017-02-28 108,916 6,791 4,304

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BELLSYSTEM24 Holdings's earnings are expected to grow by 10% yearly, however this is not considered high growth (20% yearly).
  • BELLSYSTEM24 Holdings's revenue is expected to grow by 5% 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
DB:B24 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 5 Analyst Estimates (S&P Global) See Below

All data from BELLSYSTEM24 Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:B24 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2025-02-28 153.20 153.20 153.20 1.00
2024-02-29 135.90 142.60 129.20 2.00
2023-02-28 126.60 131.50 121.70 2.00
2022-02-28 116.22 122.40 108.68 5.00
2021-02-28 105.62 110.20 100.52 5.00
2020-04-06
2020-02-29 95.09 97.90 91.95 5.00
DB:B24 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-11-30 85.06
2019-08-31 79.48
2019-05-31 75.07
2019-02-28 73.37
2018-11-30 82.74
2018-08-31 86.09
2018-05-31 82.74
2018-02-28 76.39
2017-11-30 70.48
2017-08-31 60.52
2017-05-31 57.28
2017-02-28 58.86

*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.
  • BELLSYSTEM24 Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess BELLSYSTEM24 Holdings'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
BELLSYSTEM24 Holdings has a total score of 2/6, 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.

B24 Past Performance

  How has BELLSYSTEM24 Holdings 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 BELLSYSTEM24 Holdings's growth in the last year to its industry (Commercial Services).
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.
  • BELLSYSTEM24 Holdings's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • BELLSYSTEM24 Holdings's 1-year earnings growth exceeds its 5-year average (2.7% vs -5.5%)
  • BELLSYSTEM24 Holdings's earnings growth has not exceeded the Europe Commercial Services industry average in the past year (2.7% vs 8.9%).
Earnings and Revenue History
BELLSYSTEM24 Holdings'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 BELLSYSTEM24 Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:B24 Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-11-30 126,503.00 6,253.00 12,966.00
2019-08-31 124,081.00 5,843.00 12,765.00
2019-05-31 121,799.00 5,520.00 12,657.00
2019-02-28 121,113.00 5,397.00 12,646.00
2018-11-30 119,038.00 6,088.00 12,363.00
2018-08-31 118,541.00 6,332.00 12,251.00
2018-05-31 117,211.00 6,078.00 12,073.00
2018-02-28 115,618.00 5,604.00 11,793.00
2017-11-30 114,315.00 5,163.00 11,415.00
2017-08-31 111,795.00 4,429.00 11,047.00
2017-05-31 110,698.00 4,190.00 10,778.00
2017-02-28 108,916.00 4,304.00 10,593.00
2016-11-30 107,411.00 4,967.00 10,550.00
2016-08-31 105,783.00 5,020.00 10,292.00
2016-05-31 103,807.50 5,155.50 10,067.00
2016-02-29 102,540.00 5,031.00 9,829.00
2015-11-30 104,135.00 5,763.50 10,711.00
2015-08-31 106,591.00 7,088.00 11,052.00
2015-05-31 109,331.00 8,481.50 11,183.00
2015-02-28 112,071.00 9,875.00 11,314.00
2014-02-28 107,561.00 8,024.00 11,126.00

*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.
  • BELLSYSTEM24 Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BELLSYSTEM24 Holdings used its assets more efficiently than the DE Commercial Services industry average last year based on Return on Assets.
  • BELLSYSTEM24 Holdings has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess BELLSYSTEM24 Holdings'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 Commercial Services 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.
BELLSYSTEM24 Holdings has a total score of 3/6, 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.

B24 Health

 How is BELLSYSTEM24 Holdings'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 BELLSYSTEM24 Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BELLSYSTEM24 Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • BELLSYSTEM24 Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of BELLSYSTEM24 Holdings'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.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.4x 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 BELLSYSTEM24 Holdings Company Filings, last reported 4 months ago.

DB:B24 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-11-30 48,114.00 69,886.00 7,961.00
2019-08-31 47,765.00 70,893.00 8,077.00
2019-05-31 45,871.00 73,383.00 6,278.00
2019-02-28 46,492.00 70,986.00 5,971.00
2018-11-30 46,763.00 73,490.00 5,471.00
2018-08-31 46,643.00 73,392.00 5,765.00
2018-05-31 45,229.00 75,916.00 6,242.00
2018-02-28 44,851.00 76,412.00 5,324.00
2017-11-30 43,427.00 78,223.00 5,510.00
2017-08-31 42,804.00 78,229.00 5,597.00
2017-05-31 41,271.00 81,762.00 6,949.00
2017-02-28 41,333.00 78,214.00 5,618.00
2016-11-30 38,430.00 79,575.00 5,850.00
2016-08-31 38,782.00 78,637.00 6,388.00
2016-05-31 37,704.00 81,498.00 5,816.00
2016-02-29 37,677.00 80,458.00 7,334.00
2015-11-30 36,068.00 82,818.00 11,117.00
2015-08-31 30,393.00 83,778.00 7,199.00
2015-05-31 30,393.00 83,778.00 7,199.00
2015-02-28 26,924.00 80,751.00 10,291.00
2014-02-28 50,621.00 61,000.00 7,684.00
  • BELLSYSTEM24 Holdings's level of debt (143.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (232.2% vs 143.8% today).
  • Debt is well covered by operating cash flow (23.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 32.7x coverage).
X
Financial health checks
We assess BELLSYSTEM24 Holdings'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. BELLSYSTEM24 Holdings has a total score of 3/6, 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.

B24 Dividends

 What is BELLSYSTEM24 Holdings'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
4.02%
Current annual income from BELLSYSTEM24 Holdings dividends. Estimated to be 5.23% next year.
If you bought €2,000 of BELLSYSTEM24 Holdings shares you are expected to receive €80 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?
  • BELLSYSTEM24 Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • BELLSYSTEM24 Holdings's dividend is below the markets top 25% of dividend payers in Germany (4.86%).
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
DB:B24 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 5 Analyst Estimates (S&P Global) See Below
Germany Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 5.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 316 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:B24 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2025-02-28 69.00 1.00
2024-02-29 64.00 2.00
2023-02-28 59.50 2.00
2022-02-28 52.20 5.00
2021-02-28 48.40 5.00
2020-04-06
2020-02-29 42.40 5.00
DB:B24 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-10-10 42.000 2.809
2019-10-09 42.000 2.398
2019-05-29 42.000 2.659
2019-04-10 42.000 2.619
2019-01-10 36.000 2.490
2019-01-09 36.000 2.852
2018-10-11 36.000 2.471
2018-10-10 36.000 2.118
2018-05-25 36.000 1.941
2018-04-11 36.000 2.171
2018-01-11 36.000 2.383
2018-01-10 36.000 2.420
2017-10-12 36.000 2.726
2017-10-11 36.000 2.909
2017-05-26 36.000 3.120
2017-04-13 36.000 3.397
2017-01-12 36.000 3.716
2017-01-11 36.000 3.581
2016-10-13 36.000 3.762
2016-10-12 36.000 4.066
2016-05-31 36.000 4.194
2016-04-12 36.000 3.794
2016-01-08 18.000 1.604

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

  • Whilst dividend payments have been stable, BELLSYSTEM24 Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but BELLSYSTEM24 Holdings only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of BELLSYSTEM24 Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x 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 BELLSYSTEM24 Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 BELLSYSTEM24 Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BELLSYSTEM24 Holdings has a total score of 2/6, see the detailed checks below.


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

B24 Management

 What is the CEO of BELLSYSTEM24 Holdings'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
Ichiro Tsuge
AGE 61
TENURE AS CEO 4.1 years
CEO Bio

Mr. Ichiro Tsuge serves as Chief Executive Officer, President and Representative Director of BELLSYSTEM24, Inc. Mr. Tsuge has been the Chief Executive Officer and President of BELLSYSTEM24 Holdings, Inc. since March 3, 2016. Mr. Tsuge served as Deputy President and Executive Officer of BELLSYSTEM24, Inc. He served as Deputy President and Executive Officer at BELLSYSTEM24 Holdings, Inc. from September 2015 to March 3, 2016. Mr. Tsuge served as the Chief Operating Officer of Forest Products & General Merchandise Division and Executive Officer at ITOCHU Corporation since April 1, 2012. He served as General Manager of Paper Products & Materials Department of ITOCHU Corporation until April 1, 2012. He served as Branch Manager of the San Francisco branch, Office Manager of the Montreal office, Senior Vice President and General Manager of Chemical, Forest Products & General Merchandise Division at ITOCHU International Inc. Mr. Tsuge has more than 26 years of experience in ITOCHU's General Merchandise field, with an emphasis on Pulp and Paper products. In 1980, he joined ITOCHU's General Merchandise area, where he has held a series of positions, including an assignment in New York from 1993 to 1997 and an assignment in Singapore as Office General Manager from 2004 to 2005. He held positions in the Corporate Planning Department of the General Merchandise Division of ITOCHU. He has been a Representative Director of BELLSYSTEM24 Holdings, Inc. since September 2015. He served as a Director of Metsä Fibre Oy until September 30, 2015. Mr. Tsuge graduated from Keio University in 1980.

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

Average tenure and age of the BELLSYSTEM24 Holdings management team in years:

3.5
Average Tenure
60
Average Age
  • The tenure for the BELLSYSTEM24 Holdings management team is about average.
Management Team

Ichiro Tsuge

TITLE
CEO, President & Representative Director
AGE
61
TENURE
4.1 yrs

Masaaki Obayashi

TITLE
Corporate Officer & CFO
TENURE
1.3 yrs

Yasuhiro Matsuda

TITLE
Chief Information Officer

Toyohisa Tsuji

TITLE
Corporate Officer and Head of Corporate Planning

Ichizo Matsumura

TITLE
Corporate Officer
AGE
59

Akihiko Kanazawa

TITLE
Executive VP
AGE
60

Noriyuki Hayata

TITLE
Executive VP
AGE
60
TENURE
4.6 yrs

Hidenori Hasebe

TITLE
Senior VP & Corporate Officer
TENURE
2.8 yrs
Board of Directors Tenure

Average tenure and age of the BELLSYSTEM24 Holdings board of directors in years:

4.2
Average Tenure
59.5
Average Age
  • The tenure for the BELLSYSTEM24 Holdings board of directors is about average.
Board of Directors

Ichizo Matsumura

TITLE
Corporate Officer
AGE
59
TENURE
4.6 yrs

Akihiko Kanazawa

TITLE
Executive VP
AGE
60
TENURE
3.8 yrs

Noriyuki Hayata

TITLE
Executive VP
AGE
60
TENURE
4.6 yrs

Nobuya Ishizaka

TITLE
Outside Director
AGE
53
TENURE
4.6 yrs

Ichiro Tsuge

TITLE
CEO, President & Representative Director
AGE
61
TENURE
4.6 yrs

Aki Tsurumaki

TITLE
Outside Director
AGE
51
TENURE
3.8 yrs

Makiko Takahashi

TITLE
Outside Director
AGE
52
TENURE
2.8 yrs

Takuya Yamaguchi

TITLE
Outside Director
TENURE
1.9 yrs

Kiyoshi Imagawa

TITLE
Outside Director
TENURE
1.9 yrs

Kazunori Watanabe

TITLE
Outside Corporate Auditor
AGE
69
TENURE
4.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess BELLSYSTEM24 Holdings'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. BELLSYSTEM24 Holdings 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.

B24 News

Simply Wall St News

B24 Company Info

Description

BELLSYSTEM24 Holdings, Inc. provides outsourcing, technology, and consulting services related to CRM solutions primarily in Japan. It also provides BPO services based on IT/manual preparation/education and training services; and operates contact centers in the medical and health sectors. In addition, the company engages in the planning, production, sale, and service operation of a range of content using the Internet; and provision of employment opportunities to people with disabilities. BELLSYSTEM24 Holdings, Inc. was founded in 1982 and is headquartered in Tokyo, Japan.

Details
Name: BELLSYSTEM24 Holdings, Inc.
B24
Exchange: DB
Founded: 1982
¥655,611,699
73,516,882
Website: http://www.bell24hd.co.jp
Address: BELLSYSTEM24 Holdings, Inc.
Harumi Island Triton Square Office Tower Y,
8-11 Harumi 1-chome,
Tokyo,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 6183 Common Shares The Tokyo Stock Exchange JP JPY 20. Nov 2015
DB B24 Common Shares Deutsche Boerse AG DE EUR 20. Nov 2015
Number of employees
Current staff
Staff numbers
8,496
BELLSYSTEM24 Holdings employees.
Industry
Office Services and Supplies
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 00:55
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/01/15
Last earnings filing: 2020/01/09
Last earnings reported: 2019/11/30
Last annual earnings reported: 2019/02/28


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.