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Japan Securities Finance

DB:JSE
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JSE
DB
¥47B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Japan Securities Finance Co., Ltd., together with its subsidiaries, engages in securities finance, trust banking, and real estate leasing businesses. The last earnings update was 61 days ago. More info.


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JSE Share Price and Events
7 Day Returns
-1.9%
DB:JSE
5%
DE Diversified Financial
2.8%
DE Market
1 Year Returns
-17.9%
DB:JSE
1.4%
DE Diversified Financial
3%
DE Market
JSE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Japan Securities Finance (JSE) -1.9% -0.9% -10% -17.9% 8% 2%
DE Diversified Financial 5% 7.8% -5% 1.4% 75.8% 333.7%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • JSE underperformed the Diversified Financial industry which returned 1.4% over the past year.
  • JSE underperformed the Market in Germany which returned 3% over the past year.
Price Volatility
JSE
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Japan Securities Finance's competitors could be found in our database.

Value

 Is Japan Securities Finance 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 Securities Finance 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 Japan Securities Finance.

DB:JSE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= ¥1,500.21 * 2.6%
¥38.56
Book Value of Equity per Share Median Book Value from the past 5 years. ¥1,500.21
Discount Rate (Cost of Equity) See below 12.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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:JSE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.72 (1 + (1- 30.86%) (2434.87%))
8.928
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 5.96%)
12.15%

Discounted Cash Flow Calculation for DB:JSE using Excess Returns Model Model

The calculations below outline how an intrinsic value for Japan Securities Finance is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:JSE Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (2.6% – 12.15%) * ¥1,500.21)
¥-143.69
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ¥-143.69 / (12.15% - 0.23%)
¥-1,205.45
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ¥1,500.21 + ¥-1,205.45
¥294.76
DB:JSE Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:JSE represents 0.00821x of TSE:8511
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00821x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 294.76 x 0.00821
€2.42
Value per share (EUR) From above. €2.42
Current discount Discount to share price of €4.14
= -1 x (€4.14 - €2.42) / €2.42
-71%

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

  • The current share price of Japan Securities Finance 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 Securities Finance's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Japan Securities Finance's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:JSE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in JPY ¥38.71
TSE:8511 Share Price ** TSE (2019-10-11) in JPY ¥504
Germany Diversified Financial Industry PE Ratio Median Figure of 6 Publicly-Listed Diversified Financial Companies 27.82x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

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

** Primary Listing of Japan Securities Finance.

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

= TSE:8511 Share Price ÷ EPS (both in JPY)

= 504 ÷ 38.71

13.02x

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

  • Japan Securities Finance is good value based on earnings compared to the DE Diversified Financial industry average.
  • Japan Securities Finance is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Japan Securities Finance's expected growth come at a high price?
Raw Data
DB:JSE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.02x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
29.7%per year
Europe Diversified Financial Industry PEG Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 1.81x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Japan Securities Finance, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Japan Securities Finance's assets?
Raw Data
DB:JSE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in JPY ¥1,508.42
TSE:8511 Share Price * TSE (2019-10-11) in JPY ¥504
Germany Diversified Financial Industry PB Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 3.77x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:JSE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:8511 Share Price ÷ Book Value per Share (both in JPY)

= 504 ÷ 1,508.42

0.33x

* Primary Listing of Japan Securities Finance.

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

  • Japan Securities Finance is good value based on assets compared to the DE Diversified Financial industry average.
X
Value checks
We assess Japan Securities Finance'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 Diversified Financial 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 Diversified Financial industry average (and greater than 0)? (1 check)
  5. Japan Securities Finance has a total score of 3/6, 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.

Future Performance

 How is Japan Securities Finance expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Japan Securities Finance, future earnings growth has been estimated based on fundamentals.
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
29.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Japan Securities Finance expected to grow at an attractive rate?
  • Japan Securities Finance's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Japan Securities Finance's earnings growth is expected to exceed the Germany market average.
  • Unable to compare Japan Securities Finance's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:JSE Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:JSE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 29.7%
Germany Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Europe Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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:JSE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:JSE Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
DB:JSE Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-06-30 25,717 3,623
2019-03-31 24,321 226,351 3,765
2018-12-31 25,711 3,793
2018-09-30 25,476 -285,954 3,944
2018-06-30 26,077 4,315
2018-03-31 26,333 -290,514 4,225
2017-12-31 26,862 4,005
2017-09-30 25,292 575,780 3,558
2017-06-30 23,888 3,330
2017-03-31 23,066 818,189 3,078
2016-12-31 22,919 3,101
2016-09-30 21,226 719,176 2,658

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Japan Securities Finance's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Japan Securities Finance is high growth as no revenue estimate data is available.
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:JSE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Japan Securities Finance Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:JSE Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
DB:JSE Past Financials Data
Date (Data in JPY Millions) EPS *
2019-06-30 38.71
2019-03-31 40.02
2018-12-31 40.15
2018-09-30 41.60
2018-06-30 45.36
2018-03-31 44.24
2017-12-31 41.79
2017-09-30 37.04
2017-06-30 34.58
2017-03-31 31.90
2016-12-31 32.06
2016-09-30 27.38

*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 Securities Finance will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Japan Securities Finance'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 Europe 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 Securities Finance has a total score of 3/6, 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.

Past Performance

  How has Japan Securities Finance 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 Securities Finance's growth in the last year to its industry (Diversified Financial).
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 Securities Finance's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Japan Securities Finance's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Japan Securities Finance's 1-year earnings growth is negative, it can't be compared to the Europe Diversified Financial industry average.
Earnings and Revenue History
Japan Securities Finance'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 Securities Finance Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:JSE Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 25,717.00 3,623.00 6,724.00
2019-03-31 24,321.00 3,765.00 6,676.00
2018-12-31 25,711.00 3,793.00 7,590.00
2018-09-30 25,476.00 3,944.00 7,864.00
2018-06-30 26,077.00 4,315.00 7,759.00
2018-03-31 26,333.00 4,225.00 7,757.00
2017-12-31 26,862.00 4,005.00 7,609.00
2017-09-30 25,292.00 3,558.00 7,538.00
2017-06-30 23,888.00 3,330.00 7,533.00
2017-03-31 23,066.00 3,078.00 7,564.00
2016-12-31 22,919.00 3,101.00 7,416.00
2016-09-30 21,226.00 2,658.00 7,289.00
2016-06-30 21,574.00 2,592.00 7,352.00
2016-03-31 22,035.00 2,645.00 7,314.00
2015-12-31 21,744.00 2,870.00 7,457.00
2015-09-30 21,685.00 3,389.00 7,464.00
2015-06-30 21,698.00 3,623.00 7,407.00
2015-03-31 20,300.00 3,520.00 7,162.00
2014-12-31 20,128.00 3,698.00 7,049.00
2014-09-30 20,370.00 3,090.00 6,906.00
2014-06-30 19,541.00 6,907.00 6,833.00
2014-03-31 19,566.00 6,211.00 7,371.00
2013-12-31 18,601.00 6,345.00 6,953.00
2013-09-30 18,296.00 6,023.00 7,499.00
2013-06-30 18,018.00 1,371.00 7,445.00
2013-03-31 17,675.00 1,777.00 6,939.00
2012-12-31 17,931.00 -246.00 7,328.00

*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 Securities Finance has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Japan Securities Finance used its assets less efficiently than the DE Diversified Financial industry average last year based on Return on Assets.
  • Japan Securities Finance has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Japan Securities Finance'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 Diversified Financial 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 Securities Finance has a total score of 1/6, 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.

Health

 How is Japan Securities Finance'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 Securities Finance's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Japan Securities Finance's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Japan Securities Finance's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Japan Securities Finance'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 covered by short term assets, assets are 4.7x 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 Securities Finance Company Filings, last reported 3 months ago.

DB:JSE Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 139,784.00 1,136,966.00 1,171,414.00
2019-03-31 140,792.00 1,251,007.00 1,229,313.00
2018-12-31 140,524.00 770,109.00 821,070.00
2018-09-30 143,504.00 1,459,507.00 1,184,898.00
2018-06-30 143,582.00 1,314,117.00 1,425,635.00
2018-03-31 143,810.00 1,248,924.00 838,712.00
2017-12-31 144,076.00 1,222,399.00 1,395,790.00
2017-09-30 142,518.00 1,243,216.00 1,557,662.00
2017-06-30 140,959.00 1,010,497.00 1,536,637.00
2017-03-31 139,711.00 828,908.00 1,315,259.00
2016-12-31 140,869.00 342,271.00 1,148,276.00
2016-09-30 141,062.00 489,310.00 873,139.00
2016-06-30 140,065.00 657,210.00 1,008,541.00
2016-03-31 142,029.00 1,043,910.00 697,942.00
2015-12-31 137,567.00 2,272,410.00 941,813.00
2015-09-30 136,789.00 1,843,210.00 432,379.00
2015-06-30 137,370.00 2,019,310.00 304,378.00
2015-03-31 137,144.00 2,468,510.00 620,605.00
2014-12-31 136,699.00 2,348,910.00 666,260.00
2014-09-30 133,584.00 2,410,410.00 736,969.00
2014-06-30 133,679.00 2,435,810.00 770,765.00
2014-03-31 135,227.00 2,538,110.00 501,640.00
2013-12-31 135,358.00 2,378,410.00 512,315.00
2013-09-30 133,583.00 2,365,710.00 633,061.00
2013-06-30 116,245.00 2,432,810.00 710,651.00
2013-03-31 118,590.00 2,291,810.00 1,070,226.00
2012-12-31 115,219.00 2,382,010.00 1,385,961.00
  • Japan Securities Finance's level of debt (813.4%) 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 (1821.9% vs 813.4% today).
  • Debt is not well covered by operating cash flow (19.9%, less than 20% of total debt).
  • Japan Securities Finance earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Japan Securities Finance'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 Securities Finance 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.

Dividends

 What is Japan Securities Finance'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
4.37%
Current annual income from Japan Securities Finance dividends.
If you bought €2,000 of Japan Securities Finance shares you are expected to receive €87 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 Securities Finance's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Japan Securities Finance's dividend is above the markets top 25% of dividend payers in Germany (3.86%).
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:JSE 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 0 Analyst Estimates (S&P Global) See Below
Europe Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:JSE Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
DB:JSE Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-06-26 22.000 4.235
2019-05-15 22.000 3.938
2019-02-04 22.000 3.676
2018-11-09 22.000 3.621
2018-11-05 22.000 3.377
2018-06-25 22.000 3.536
2018-05-14 22.000 3.438
2018-02-05 26.000 3.925
2017-11-10 18.000 2.859
2017-11-06 18.000 2.870
2017-06-26 16.000 2.744
2017-05-11 16.000 2.796
2017-02-10 16.000 2.624
2017-02-06 16.000 2.596
2016-11-10 16.000 2.708
2016-11-07 16.000 3.535
2016-06-27 16.000 3.681
2016-05-12 16.000 3.724
2016-02-10 16.000 3.527
2016-02-03 16.000 3.234
2015-11-11 16.000 2.625
2015-11-09 16.000 2.456
2015-06-25 16.000 2.394
2015-05-11 16.000 2.153
2015-02-10 14.000 1.922
2015-02-04 14.000 2.349
2014-11-11 14.000 2.304
2014-11-10 14.000 2.151
2014-06-26 14.000 2.240
2014-05-12 14.000 2.243
2014-02-13 14.000 2.314
2014-02-05 14.000 2.100
2013-11-12 14.000 1.832
2013-11-11 14.000 2.017
2013-06-27 14.000 1.952
2013-05-13 14.000 1.794
2013-02-12 14.000 1.851
2013-01-30 14.000 2.191
2012-11-12 14.000 3.051
2012-07-31 14.000 3.853
2012-06-28 14.000 3.657
2012-05-14 14.000 3.711
2012-02-13 14.000 3.114
2012-02-06 14.000 3.438
2011-11-11 14.000 3.847
2011-11-07 14.000 3.860
2011-07-28 14.000 3.481
2011-06-27 14.000 2.793
2011-05-12 14.000 3.080
2011-02-14 14.000 2.585
2011-02-03 14.000 2.203
2010-11-12 14.000 2.342
2010-11-08 14.000 2.694
2010-08-12 14.000 2.904
2010-07-29 14.000 2.827
2010-06-28 14.000 2.745
2010-05-12 14.000 2.438
2010-02-12 14.000 2.095
2010-02-03 14.000 1.985
2009-11-12 14.000 2.032
2009-11-09 14.000 2.082
2009-06-29 14.000 1.926
2009-05-13 14.000 1.962
2009-02-12 20.000 4.600
2009-02-04 20.000 5.179
2008-11-06 20.000 4.809
2008-10-31 20.000 4.610

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 increased over the past 10 years.
Current Payout to shareholders
What portion of Japan Securities Finance's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x 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 Securities Finance's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 Securities Finance afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Japan Securities Finance has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of Japan Securities Finance'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
Eizo Kobayashi
AGE 71
TENURE AS CEO 7.3 years
CEO Bio

Mr. Eizo Kobayashi has been Chairperson of Japan Securities Finance Co., Ltd. since 2019. He had been the President of Japan Securities Finance Co., Ltd. since June 2012 until 2019. Mr. Kobayashi served as an Adviser of Japan Securities Finance Co., Ltd. since May 2010 and its Senior Managing Director since June 2010 and Representative Senior Managing Director since June 2010. He served as Senior Adviser of American Family Life Assurance Company of Columbus since May 2006. In April 2007, he joined Cross Plus, Inc. as an External Director. In April 1972, he joined Bank of Japan and served as its Chief of Personnel Bureau since May 1999 and Chief of Examination Bureau since May 2000. He served as Vice Chairman of AFLAC (American Family Life Assurance Company of Columbus) since July 2007. He has been an External Director at Anicom Holdings, Inc. since June 2013 and Cross Plus, Inc. since April 2007. He had been a Representative Director of Japan Securities Finance Co. Ltd. since June 2012 until 2019. He has been Director of Fujimori Kogyo Co., Ltd. since June 23, 2016. Mr. Kobayashi served as an External Director at Zuiko Corporation. He served as an External Auditor of Fujimori Kogyo Co., Ltd. since June 1, 2015 until June 23, 2016. He served as a Director of Bank of Japan since June 2002. Since June 2006, he served as an External Auditor of JA HYOGO SHINREN. He served as an External Director of Yamaha Motor Co., Ltd., since March 2007.

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

Average tenure and age of the Japan Securities Finance management team in years:

2.3
Average Tenure
60
Average Age
  • The tenure for the Japan Securities Finance management team is about average.
Management Team

Eizo Kobayashi

TITLE
Chairperson
AGE
71
TENURE
7.3 yrs

Shigeki Kushida

TITLE
President
AGE
60
TENURE
0.8 yrs

Kenji Fukushima

TITLE
Senior Managing Executive Officer
AGE
60
TENURE
3.3 yrs

Kazuhiro Maeda

TITLE
Senior Managing Executive Officer
AGE
60
TENURE
3.3 yrs

Yasuhiro Hirama

TITLE
Senior Corporate Officer
AGE
58

Yutaka Okada

TITLE
Managing Executive Officer
AGE
54
TENURE
1.3 yrs

Shinichi Sugiyama

TITLE
Corporate Officer & GM of Treasury Dept.
TENURE
0.8 yrs

Tetsuya Tawara

TITLE
Executive Officer & Manager of Osaka Branch
Board of Directors Tenure

Average tenure and age of the Japan Securities Finance board of directors in years:

0.3
Average Tenure
69
Average Age
  • The average tenure for the Japan Securities Finance board of directors is less than 3 years, this suggests a new board.
Board of Directors

Naotaka Obata

TITLE
Chairman of the Board
AGE
75
TENURE
0.8 yrs

Shigeki Kushida

TITLE
President
AGE
60
TENURE
0.3 yrs

Shuya Iimura

TITLE
Outside Director
AGE
55
TENURE
0.3 yrs

Hiroshi Nasuno

TITLE
Director
AGE
69
TENURE
0.3 yrs

Shoko Sugino

TITLE
Outside Director
AGE
74
TENURE
0.3 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 Japan Securities Finance'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 Securities Finance 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.

News

Simply Wall St News

Company Info

Description

Japan Securities Finance Co., Ltd., together with its subsidiaries, engages in securities finance, trust banking, and real estate leasing businesses. The company offers loans for margin transactions comprising funds loans and stock loans; general stock lending that includes lending stock needed to settle stock trading; bond services comprising brokerage between borrowers and lenders in bond borrowing and lending market; loan funds needed to settle negotiable margin transactions; loan funds needed in bond underwriting, trading, etc.; and general loans, which include loan working funds, etc. to securities companies. It also provides secured loans on securities for individual and corporate investors that comprise COM-STOCK, business, and safe keeping deposited loans. In addition, the company offers peripheral services, such as custody services for securities owned by institutional investors, etc.; and repayment services for principal and interest on government bonds. Further, it engages in the provision of securities trust and banking services; and ownership, leasing, trading, and brokerage of real estate properties. The company was formerly known as Tokyo Securities Co., Ltd. and changed its name to Japan Securities Finance Co., Ltd. in December 1949. Japan Securities Finance Co., Ltd. was founded in 1927 and is headquartered in Tokyo, Japan.

Details
Name: Japan Securities Finance Co., Ltd.
JSE
Exchange: DB
Founded: 1927
¥389,305,605
92,649,135
Website: http://www.jsf.co.jp
Address: Japan Securities Finance Co., Ltd.
1-2-10 Nihonbashi-Kayabacho,
Chuo-ku,
Tokyo,
103-0025,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 8511 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
DB JSE Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
Number of employees
Current staff
Staff numbers
281
Japan Securities Finance employees.
Industry
Specialized Finance
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 20:39
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/08/13
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/03/31


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.